{"id":16945,"date":"2025-10-13T07:51:24","date_gmt":"2025-10-13T05:51:24","guid":{"rendered":"https:\/\/wsj-crypto.com\/?p=16945"},"modified":"2025-10-13T07:51:24","modified_gmt":"2025-10-13T05:51:24","slug":"mysterious-whale-makes-waves-with-163m-bitcoin-short-following-a-192m-windfall","status":"publish","type":"post","link":"https:\/\/wsj-crypto.com\/index.php\/2025\/10\/13\/mysterious-whale-makes-waves-with-163m-bitcoin-short-following-a-192m-windfall\/","title":{"rendered":"“Mysterious Whale Makes Waves with $163M Bitcoin Short Following a $192M Windfall”"},"content":{"rendered":"

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A significant crypto derivatives gambler that recently earned $192 million wagering on the crypto market with a oddly timed short has initiated additional bearish positions.<\/p>\n

The whale trader (0xb317) on the Hyperliquid decentralized derivatives platform has commenced a $163 million leveraged perpetual contract to short Bitcoin (BTC<\/a>) on Sunday.<\/p>\n

The 10x leveraged position currently stands at $3.5 million in profit, but it will be liquidated if BTC hits $125,500.<\/p>\n

The entity garnered attention from the crypto community after establishing a short position merely 30 minutes prior to Trump\u2019s tariff announcement on Friday, which caused the crypto market to plunge but secured them $192 million in gains.<\/p>\n

Insider whale initiated another substantial short on Sunday. Source: <\/em>Hypurrscan<\/em><\/a><\/figcaption><\/figure>\n

\u201cInsider whale\u201d accused<\/h2>\n\n

Some speculate that the whale themselves triggered a massive leverage flush that devastated crypto markets over the weekend.<\/p>\n

\u201cThe astonishing part is that he shorted another nine figures worth of BTC and ETH just moments before the cascade unfolded,\u201d remarked<\/a> observer \u201cMLM,\u201d who added, \u201cAnd this was just publicly on Hyperliquid; imagine what he might have done on CEXs or elsewhere.\u201d<\/p>\n

\u201cI\u2019m fairly certain this individual played a substantial role in today\u2019s events.\u201d<\/p><\/blockquote>\n

Related: <\/strong><\/em>Crypto derivatives funding rates decline to 3-year lows: A bullish indicator?<\/strong><\/em><\/a><\/p>\n

More than 250 wallets lost millionaire status on Hyperliquid since Friday\u2019s decline, reported<\/a> HyperTracker on Sunday.<\/p>\n

Concurrently, another more bullish trader established<\/a> a 40x leveraged $11 million long position in Bitcoin.<\/p>\n

\u201cCrypto enthusiasts are coming to understand today what it signifies to have unregulated markets: insider trading, corruption, crime, and complete lack of accountability,\u201d noted<\/a> SWP Berlin researcher Janis Kluge.<\/p>\n

Binance denies involvement in market collapse<\/h2>\n

There have also been claims<\/a> that Binance might have contributed to the collapse, as its own order books and market maker purportedly failed, stop-losses were not executed, traders were liquidated en masse, and several tokens reportedly depegged<\/a> or crashed to zero<\/a>.<\/p>\n

However, the exchange issued a statement to users asserting that there was no collapse because it was a \u201cdisplay issue.\u201d<\/p>\n

\u201cWe are aware of market speculation regarding the causes of this event, with some attributing it to the actions of the Binance platform,\u201d the company declared<\/a> on Sunday.<\/p>\n

It confirmed that during the incident, the core futures and spot matching engines and API trading \u201cremained operational.\u201d<\/p>\n

Binance denied that the depegging of USDE, BNSOL, and WBETH caused the market crash but offered around $283 million in compensation to traders holding these assets as collateral who faced liquidation.<\/p>\n

The Binance exchange\u2019s native token, BNB (BNB<\/a>), has rebounded strongly, climbing 14% in the past 24 hours to exceed $1,300 again.<\/p>\n

Magazine: <\/strong><\/em>Bitcoin\u2019s \u2018macro whiplash,\u2019 Shuffle suffers data breach: Hodler\u2019s Digest<\/strong><\/em><\/a><\/p>\n