Infamous Hyperliquid leverage trader closes $520 million short BTC position, netting $9.4 million profit

On Tuesday, an infamous trader nicknamed the "Hyperliquid whale" closed a leveraged short bitcoin position of over half a billion dollars on the decentralized perpetual trading platform.Blockchain analytics platform Spot On Chain identified the trader's wallet address as "0xf3F…7057c." The wallet had a short position of 6,210 BTC ($520 million) with a 40x leverage. On Tuesday, the trader exited the position with over $9.4 million profit, data from block explorer Hypurrscan shows.The same person is believed to have previously built a long position in ether, reaching over $300 million last week. This position was later liquidated, leaving Hyperliquid's HLP (Hyperliquidity Provider) vault with a $4 million loss.According to Hypurrscan data, "0xf3F…7057c" currently holds a 5x long position on the Melania memecoin worth $3.3 million. Meanwhile, blockchain sleuth ZachXBT claimed on X that this trader could be a cybercriminal. "It’s funny watching CT speculate on the “Hyperliquid whale” when in reality it’s just a cybercriminal gambling with stolen funds," he commented.Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.© 2025 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.