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- Whale 0xb317 shorted Bitcoin for $163M after a $192M profit last week.
- Traders suspect insider knowledge behind perfectly timed bets.
- Binance denies causing market chaos, compensates users $283M.
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A Crypto trader known only by the wallet address 0xb317 has once again stirred controversy after opening another massive short position on Bitcoin — this time worth $163 million. The move follows a $192 million profit the trader made last week after shorting the market just minutes before Donald Trump’s tariff announcement, which triggered a sharp market crash.
On Sunday, the whale reportedly entered a 10x leveraged perpetual short on the decentralized derivatives platform Hyperliquid. The position is already up roughly $3.5 million, though it risks liquidation if Bitcoin climbs past $125,500.
“Insider Whale” Accusations Spark Debate
The crypto community has been quick to brand the trader an “insider whale,” pointing to the suspiciously well-timed trades that preceded major market moves. Some observers even speculate the entity may have triggered part of the market’s recent leverage flush, which wiped out billions in open interest.
“The crazy part is that he shorted another nine figures worth of BTC and ETH minutes before the cascade happened,” one analyst noted. “Imagine what he did on centralized exchanges.”
In case you didn’t know – the BTC whale closed 90% of his BTC short and fully closed his ETH short, making around $190–$200M profit in just one day on Hyperliquid.
— MLM (@mlmabc) October 10, 2025
The crazy part is that he shorted another 9 figs worth of BTC and ETH minutes before the cascade happened. And this… pic.twitter.com/QhmUpesG0j
The fallout was severe — over 250 wallets reportedly lost millionaire status on Hyperliquid since Friday’s crash, according to HyperTracker.
Over 250 wallets lost millionaire status on Hyperliquid since Fridays crash
— HyperTracker (@CMMHyperTracker) October 12, 2025
Source: https://t.co/DoJt9p7oVn pic.twitter.com/9zlN3qI6TW
Binance Denies Role in Market Meltdown
Adding to the chaos, Binance faced scrutiny as traders alleged technical failures during the sell-off. Some claimed stop-loss orders failed, while others pointed to multiple token depegs.
In response, Binance said there was no system failure, calling the incident a “display issue.” The exchange confirmed its core systems “remained operational” and later compensated affected users with $283 million.
Meanwhile, BNB rebounded strongly, gaining 14% to trade above $1,300 — a sign of renewed confidence after a turbulent weekend.
Also Read: Crypto Market Update: Pepeto Advances Presale With Staking Rewards and Live Exchange Demo
The Bigger Picture
The “insider whale” saga highlights growing concerns about transparency and fairness in crypto markets. As one researcher put it: “This is what happens in unregulated spaces — insider moves, chaos, and no accountability.”
With billions at stake and whales moving markets at will, retail traders are left wondering whether the game is ever truly fair.
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Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
I’m your translator between the financial Old World and the new frontier of crypto. After a career demystifying economics and markets, I enjoy elucidating crypto – from investment risks to earth-shaking potential. Let’s explore!
