A mysterious crypto trader on the Hyperliquid exchange is once again shaking the markets — this time by doubling their Bitcoin short to nearly half a billion dollars at 10x leverage.
From $192M Profit to $500M Short 💣
This enigmatic trader — dubbed the “insider whale” by the crypto community — first gained fame for making $192 million from a perfectly timed short just before Trump’s tariff announcement, which triggered a market-wide crash.
Now, data from Hypurrscan shows that the whale’s short position has ballooned to $496 million, with a liquidation price of $124,270 per Bitcoin.
That’s a massive increase from the $163 million position opened just one day earlier — a clear signal that the whale is doubling down on bearish bets despite the market’s volatility.
The Insider Theories Keep Growing 🧠
The community remains obsessed with this trader’s identity — and how they seem to predict major market events moments before they occur.
Some suspect the whale might have inside information or institutional connections. Others think it could simply be an exceptional risk model or even market manipulation.
“This trader opened short positions minutes before major announcements — it’s hard to believe it’s just luck,” one observer wrote on X (formerly Twitter).
In recent weeks, the same account has also opened $900 million worth of BTC and ETH shorts, further fueling speculation that this might not be an individual trader but a fund or coordinated entity.
Is Garrett Jin Behind the Wallet? 🕵️♂️
Blockchain analysts have started linking the wallet to Garrett Jin, the former CEO of BitForex, a now-defunct crypto exchange.
The theory gained traction when Binance CEO Changpeng “CZ” Zhao reposted a thread about the alleged connection, prompting Jin to respond directly:
“Thanks for sharing my personal information. To clarify, I have no connection with the Trump family — this isn’t insider trading,” Jin wrote on X.
Minutes later, he added that “the fund isn’t mine — it’s my clients’. We run nodes and provide insights for them.”
Whether or not Jin is truly behind the whale account remains uncertain — but his acknowledgment only deepened the mystery.
What Happens Next? ⚡
With Bitcoin hovering around $111,000, the whale’s leveraged short could yield massive profits if prices drop — or end in catastrophic liquidation if BTC rallies past $124K.
Either way, all eyes are on Hyperliquid, as the crypto world watches one of the most dramatic high-stakes plays unfold.
Stay tuned for more updates on the “insider whale” saga and market insights at 👉 CryptoDice News
