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Blockchain investigator ZachXBT has alleged that a trader who recently amassed $20 million on HyperLiquid through leveraged trading is likely William Parker. Parker is a convicted fraudster with a history of hacking and gambling-related crimes. In a detailed thread on X, ZachXBT outlined how an on-chain analysis traced the whale’s transactions back to Parker. The trader reportedly opened highly leveraged positions on HyperLiquid and GMX from January to March 2025, including a 50x ETH and BTC long just before Trump’s crypto reserve announcement and a 40x BTC short, netting nearly $20 million in profits. 1/ An investigation into the alleged identity of the mysterious Hyperliquid whale tied to illicit activity that profited ~$20M via highly leveraged positions over the past couple weeks. pic.twitter.com/AgKy7SwTNh The investigation identified key counterparties linked to major platforms, including Binance , Roobet, and Alphapo. A wallet associated with the trader was also found to have received funds from a phishing scam and an exploited casino game. Further analysis tied these activities to Parker, who was arrested in Finland in 2023 for stealing $1 million from casinos. Parker, previously known as Alistair Packover, has a history of fraud charges dating back to the early 2010s in the UK. Despite serving time, ZachXBT suggested Parker has continued illicit activities, with most of his crypto assets now sitting in a tracked wallet.

Infini Labs, a crypto-focused neobank, has filed a lawsuit against an engineer it accuses of embezzling nearly $50 million from the platform. The stablecoin digital bank accuses Chen Shanxuan of retaining “super admin” authority as the crypto platform’s smart contract went live in mainnet. As a result, the engineer stole approximately $49.5 million in USDC ( USDC ) from the firm. Infini Labs filed its lawsuit in Hong Kong, via its subsidiary BP SG Investment Holding Limited. The allegation is that as a lead developer, Chen secretively retained ‘super admin’ access and used this privilege to embezzle millions of dollars in crypto from the firm. Interestingly, the lawsuit paints the picture of Chen as a man in debt and a massive gambler. The case follows the cryptocurrency credit card provider’s suffering from an exploit that saw $49.5 million drained from its coffers. The initial reaction to the loss was tha this was the work of hackers. However, the lawsuit puts Chen on the spot, with documents presented before the court asking that the accused person’s assets be frozen. Infini Labs has also asked the court to compel its former lead smart contracts engineer to disclose further transaction details. In the crypto heist Infini suffered in February, funds had vanished without the multi-signature authorization. Chen used his full access to steal, the firm notes in the lawsuit. The lawsuit against Chen comes days after Infini founder Christian Li, asked the “hacker” to take the firm up on a white hat agreement. Li’s on-chain message also highlighted a 20% bounty the company offered to the suspected attacker. Li also reiterated that Infini Labs was not going to take any legal action if the hacker complied with the white hat offer and returned the funds as requested. Trugard CTO and co-founder Jeremiah O’Connor told crypto.news in a statement the exploit is a “textbook example of an insider attack” within the Web3 space. Specifically, when a single engineer holds “unchecked power” over a smart contract it creates a central point of failure. “Instead of revoking their super admin privileges as promised, this engineer kept a secret backdoor, deceived their own team, and made off with $50 million,” O’Connor added. “If the allegations are true, their motive—covering gambling losses—makes the situation even more alarming. When financial desperation meets unrestricted control, the results are almost always catastrophic. This serves as yet another wake-up call about the dangers of centralized authority in DeFi.” Security in DeFi must rely on more than just trust, he said. If Infini had in place decentralized safeguards like multi-signature wallets, on-chain transparency, or timelocks for admin changes, an exploit would have not been likely. As such, any project that allocates “absolute control” to one individual is “asking for trouble.” In Web3, security isn’t about trust; it’s about verifiable, enforced protections before things go south,” O’Connor concluded.

Lace, a web3 non-custodial wallet developed by Input Output, is now multichain, with initial support including Bitcoin. Input Output, an infrastructure and web3 research platform founded in 2015 by Charles Hoskinson and Jeremy Wood, announced the development via a press release on Mar. 20. Hoskinson is the founder of Cardano ( ADA ), one of the top cryptocurrency and blockchain projects. According to IO, the Lace wallet’s non-custodial solution is now officially multichain. The launch expands the wallet’s support beyond Cardano, with initial support for Bitcoin ( BTC ). “The future of blockchain is multichain, and with Lace, we’re making sure users have everything they need in one powerful, easy-to-use wallet. Building on the foundations we have established with Cardano, we identified Bitcoin as the logical next step. And we’re just getting started,” Brandon Wolf, general manager at Lace, said. Lace now allows its users to store, manage, and transfer BTC. According to IO, the integration of BTC is a milestone that brings web3 closer to reality. This is because the support does not only help accelerate adoption for Bitcoin—it also boosts the broader ecosystem. As the top blockchain network sees increased traction across decentralized finance and smart contracts, several layer-2 solutions built on top of it are gaining further adoption. “Bitcoin was the starting point for many people’s Web3 journey, and now we are witnessing its next evolution with the rise of Bitcoin DeFi. With Bitcoin integration now live, Lace is creating a seamless, intuitive gateway to maximise the best of blockchain innovation” Hoskinson said. The integration provides an “intuitive gateway” that will help maximize blockchain innovation and add to the growth of DeFi, the Cardano founder added. Other than DeFi, Lace’s web3 traction includes non-fungible tokens and multi-chain asset management. Bitcoin continues to attract attention for its potential, with zero-knowledge powered platform BitcoinOS among those to champion its integration with crypto. The project’s open-sourcing of its BitSNARK v0.2 unlocks unlimited BTC programmability, the protocol’s team posted on X. BitcoinOS’ code allows anyone to verify ZK proofs on Bitcoin.

3/ How it Works Each minute, an autonomous auctioneer runs a sealed-bid auction: 🔹 Highest bidder gets express lane access 🔹 Pays the 2nd highest bid price 🔹 Transactions submitted via this lane bypass a short default delay (~200ms) Bids are private until the round ends,…

6/ What’s next? 🔹 Timeboost was tested on Sepolia and audited by Trail of Bits 🔹 ArbitrumDAO has already voted in favor via Snapshot 🔹 The final on-chain vote is live on Tally—if it passes, Timeboost will be activated on Arbitrum One & Nova