PANews reported on March 20 that on-chain detective ZachXBT released an investigation stating that a trader made approximately US$20 million in profits by opening multiple high-leverage positions on Hyperliquid and GMX between January and March 2025, and thus became the focus of market attention.
Key transactions:
• 0xe4d3 made $10 million through large ETH and BTC long positions with 50x leverage before Trump’s cryptocurrency reserve announcement.
• 0xf3F4 earned $9 million through a large BTC short position with 40x leverage.
The investigation found that 0xf3F4's main counterparties were related to multiple platforms, including Roobet, Binance, Gamdom, etc. The account also revealed its $20 million profit on GMX and HL on the social platform X.
Further analysis revealed that 0xf3F4 was associated with multiple phishing sites, and that some of the funds came from malicious behavior that exploited input validation vulnerabilities in casino games. Through tracing back to the source, the investigation found that the funds eventually flowed to an individual named William Parker (formerly Alistair Packover), who had been arrested for multiple fraud and gambling cases and sentenced in Finland.
Ultimately, the investigation revealed that William Parker used illegal means to increase the value of his original six-figure funds to $20 million through highly leveraged trading.
