Crypto Whale Who Made Millions Trading With Leverage Found Guilty of Fraud: ZachXBT

Cryptocurrency whale who made millions trading leveraged funds found guilty of fraud: ZachXBT

Oliver Knight | Edited by Steven Alpher on March 21, 2025, 15:03 UTC

Key facts:

• According to ZachXBT, the identity of the trader who made millions on leveraged bets is William Parker, a convicted fraudster who stole $1 million from two casinos in 2023.
• Blockchain data indicates that the wallet in question had interactions with several crypto casinos.
• The trader opened a long position in BTC shortly before Donald Trump announced the creation of the US Strategic Cryptocurrency Reserve.

The mysterious crypto trader who made millions this year trading derivatives has been identified as convicted fraudster William Parker, according to blockchain detective ZachXBT.

Parker made $6.8 million on a single position by going long BTC ahead of Donald Trump’s announcement of the U.S. Strategic Cryptocurrency Reserve, ZachXBT reports. He then went long BTC again and made an additional $9 million when the price spiked.

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All of his trades used 50x leverage, which is a very risky strategy as the liquidation price of the position is close to the entry point.

It appears that this trader specialized in high-risk gambling, as blockchain data shows that his wallet frequently interacted with accounts at Roobet, Gamdom, Shuffle, BC Game, and Metawin, all of which are cryptocurrency online casinos.

As it turns out, the wallet associated with his trades was created in January to receive a fee for draining funds on a phishing site, and that same month he received $17,100 from a client who drained funds through phishing, according to ZachXBT.

The investigation then moves to the Solana wallet that first interacted with the trader's wallet. This SOL wallet withdrew funds from four casinos after exploiting an input validation vulnerability in a casino game. ZachXBT contacted these casinos, who provided him with the user's Telegram account.

The Telegram account confirmed that the trader was actively participating in the network and simultaneously posting messages in derivatives trading chats on Telegram.

ZachXBT went further and found a payment sent by a trader to an unnamed person on the HyperLiquid exchange. This transaction resulted in the disclosure of a phone number associated with a person named William Parker.

Last year, Parker was convicted and sentenced to 2.5 years in prison in Finland for stealing $1 million from two casinos in 2023. He served time in the UK in 2010 for multiple fraud charges related to hacking and gambling.

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