Crypto Whale Who Made Millions on Leverage Trading Is a Convicted Fraudster: ZachXBT
Investigations by blockchain sleuth ZachXBT have led to a shocking revelation: a mysterious crypto trader who made millions trading derivatives this year is none other than William Parker, a convicted fraudster. The revelation has sent shockwaves through the cryptocurrency community, raising questions about the ethics of high-stakes leverage trading and the role of online casinos in facilitating illicit activities.
According to ZachXBT, Parker made a staggering $6.8 million on one position after going long on BTC just before Donald Trump's weekend announcement of a U.S. strategic crypto reserve. He then turned around and made another $9 million by going short BTC as the price pump quickly reversed. The trades were all conducted using 50x leverage, a high-risk strategy that leaves traders vulnerable to significant losses if the liquidation price is not met.
It appears that Parker's speciality was high-risk gambling, as on-chain data suggests his wallet frequently interacted with crypto-based online casinos such as Roobet, Gamdom, Shuffle, BC Game, and Metawin. The wallet connected to the trades was also set up as the drainer fee receiver on a phishing website in January, receiving $17.1K from a phishing draining customer in the same month.
ZachXBT's investigation then dug deeper into the trader's activities, uncovering a Solana wallet that interacted with Parker's wallet. The Solana wallet had made withdrawals from four casinos following an input validation exploit on a casino game. By reaching out to these casinos, ZachXBT was able to obtain a Telegram account linked to the user, which yielded verification of the trader's activities.
Further investigation led ZachXBT to discover a payment sent by Parker to an unnamed person on the HyperLiquid exchange. This transaction revealed a phone number linked to a person called William Parker. The connection to Parker was solidified last year when he was convicted and sentenced to 2 1/2 years in jail in Finland for stealing $1 million from two casinos in 2023.
Parker's past also includes a conviction in the U.K. for multiple fraud charges related to hacking and gambling, which led to his serving time in 2010. The revelations have raised questions about the role of online casinos in facilitating illicit activities and the need for greater regulation within the cryptocurrency industry.
A Cautionary Tale
The story of William Parker serves as a cautionary tale about the dangers of high-stakes leverage trading and the importance of due diligence. It highlights the need for traders to be vigilant in their research and analysis, particularly when using high-risk strategies that leave them vulnerable to significant losses.
It also raises questions about the role of online casinos in facilitating illicit activities and the need for greater regulation within the cryptocurrency industry. As the cryptocurrency market continues to evolve, it is essential for traders, investors, and regulators to remain vigilant and proactive in protecting against fraudulent activities.
A Call to Action
The revelation about William Parker's true identity serves as a call to action for the cryptocurrency community to take greater responsibility for its own security and integrity. It highlights the need for traders, investors, and online casino operators to work together to prevent illicit activities and promote a safe and secure environment for all users.