Main takeout
- Encryption whales have been identified as cyber crimes using theft funds for high -end Bitcoin transactions.
- Whales secured $ 9 million in profits despite the adjusted efforts to liquidate a short position.
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According to the on Chain Investigator ZACHXBT, the recent encryption whale with a large short position for Bitcoin has been confirmed as cyber crime using the stolen funds for high leverage transactions.
It is fun for CT to guess “hyper liquid whales” when CT is a cyber crime gambling with a stolen fund.
-zachxbt (@zachxbt) March 18, 2025
ZACHXBT’s opinion followed an attempt to hunt the whales of a merchant group led by a pseudonym CBB.
According to the data tracked by LookonChain, the whale was $ 84,040 on March 15, with a 3,940 BTC short position of 40x leverage short positions of more than $ 333 million, and the liquidation point was set to $ 85,300. If the price of Bitcoin exceeds this threshold, the location will face liquidation.
The actions were fast to everyone’s radar. Just 24 hours later, the Available CBB publicly demanded that the encryption trader would adjust the short pressure for the aim of liquidation price of the whale.
The group drove Bitcoin to more than $ 84,690, reaching almost liquidation threshold.
Faced with threats, whales added $ 5 million to USDC to increase margins and avoid liquidation. Despite the efforts of the merchant, the whale continued to expand its short position. Their hunting was ultimately not fruitful.
Crypto Whale finished all his positions on Tuesday and realized a profit of more than $ 9 million.
Zachxbt identified whales as cyber crimes, but did not reveal their identity.
The investigator confirmed that an individual is not in partnership with the notorious screw group, known for his recent coordination of large cyber attacks, including hacking krypto exchange.
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