Wu said that according to on chain detective ZachXBT's disclosure, their investigation into the mysterious "whale" identity of Hyperliquid shows that the account is suspected of making profits of about $20 million through high leverage trading from January to March 2025, which may involve illegal activities. Whale account 0xf3f operated multiple high leverage positions on Hyperliquid and GMX platforms, including: making a profit of $10 million by long selling ETH and BTC with 50 times leverage before Trump's crypto reserve announcement in March 2025, and making a profit of $9 million by short selling BTC with 40 times leverage. ZachXBT confirmed that 0xf3f is related to the X account qwatio and found that the account may have been recently purchased (inactive for many years, recently renamed). In addition, the wallet cluster controlled by 0xf3f is associated with accounts such as Roobet, Binance, and Gamdom. In January, it was marked as a receiving address on phishing websites such as phishing [.] fi, involving an inflow of $171000. At present, ZachXBT has contacted Scam Sniffer to further track the relevant fishing activities, and the investigation is still ongoing. http://(wublock123.com)/index.php? m=content&c=index&a=show&catid=6&id=39771