HyperLiquid Whale, which lost $192 million short during the recent market crash, has doubled down on new short positions, accumulating nearly $500 million in the past two days.
According to data from Hyperliquid block exploration firm Hypurrscan, the whale currently holds a short position worth approximately $496 million with 10x leverage and a Bitcoin (BTC) liquidation price of $124,270.
After initially opening a position with $163 million, the whale has more than doubled its stake since yesterday. This marks another aggressive move to bet on the market over the past week.
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The crypto investor made headlines two months ago when he held $11 billion worth of BTC. Last week, they opened $900 million worth of shorts in BTC and Ether (ETH).
The whale was once again in the spotlight on Friday when it strangely opened a short position less than an hour after US President Donald Trump’s tariff announcement, leading to a crypto market crash in the aftermath.
Given the short story’s odd timing, the community dubbed the wallet holder an “insider whale.”
Who is this infamous whale?
The identity behind the wallet is not verified. However, blockchain sleuths over the weekend pointed to a potential connection to Garrett Zinn, former CEO of now-defunct cryptocurrency exchange Bitforex.
Cryptocurrency researcher Ai initially claimed that it was Jin who reposted the Binance CEO’s X thread and requested verification, but subsequent comments from detectives like ZachXBT suggested it was likely one of Jin’s friends.
Jin basically confirmed the connection after hitting back at CZ at X on Sunday.
“@cz_binance, thank you for sharing my personal information. To be clear, I have no connection to the Trump family or @DonaldJTrumpJr. This is not insider trading,” he wrote.
Less than 20 minutes later, Jin followed up with another post saying, “This fund doesn’t belong to me, it belongs to my clients. We operate the nodes and provide internal insights to our clients.”
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