A mysterious crypto whale who made $192 million shorting the market before Trump’s tariff announcement has returned — and they’re betting big against Bitcoin once more.
The Insider Whale Strikes Again 🕵️♂️
The trader, known by the wallet 0xb317 on the Hyperliquid decentralized derivatives exchange, has opened a $163 million short position on Bitcoin (BTC) using 10x leverage.
Currently sitting on a $3.5 million profit, the position will be liquidated if BTC hits $125,500, according to on-chain data.
Just days earlier, this same entity made headlines for placing a short position 30 minutes before Trump’s tariff announcement, pocketing an eye-popping $192 million as crypto markets plunged.
“Insider Whale” Theories Swirl 🌪️
The timing of these trades has ignited debate across the crypto community, with many labeling the trader an “insider whale.”
Some analysts speculate that the whale’s massive short positions triggered cascading liquidations, worsening the weekend crash.
“He shorted another nine figures of BTC and ETH just minutes before the cascade happened,” said observer MLM.
“Imagine what he did on centralized exchanges.”
Meanwhile, over 250 wallets reportedly lost millionaire status on Hyperliquid since Friday’s downturn, according to HyperTracker data.
Market Chaos and Binance’s Role ⚙️
Adding fuel to the fire, some traders blamed Binance for intensifying the meltdown, citing order book failures, unexecuted stop-losses, and sudden token depeggings.
However, Binance denied any malfunction, stating that there was “no crash” but a temporary display issue — and that core trading engines remained operational.
To calm the situation, Binance offered $283 million in compensation to affected traders whose collateral assets were liquidated.
Bitcoin Recovers — But Questions Remain 💭
Despite the chaos, Bitcoin rebounded, and BNB, Binance’s native token, soared 14% in the last 24 hours to surpass $1,300.
Still, the community is left wondering:
Is this trader just incredibly lucky — or are we witnessing true insider trading in an unregulated market?
As Janis Kluge from SWP Berlin put it:
“Crypto people are realizing today what it means to have unregulated markets: insider trading, corruption, and zero accountability.”
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