BTC OG Whale Holds 4,394.7 BTC ($498M) 10x Short on Hyperliquid — Arkham Trace of Coordinated Shorts Fuels Insider Trading Suspicion

Coinbob on-chain analytics shows the BTC OG Whale (0xb317) holding a 4,394.7 BTC short position on Hyperliquid in 10x leverage full-position mode, with an opening price near 115,288 USDC, a current liquidation price of 124,272 USDC and a margin utilization of 83.22%, reflecting a high-risk, concentrated exposure while reporting roughly 60 million USD in account net worth and >9 million USD floating profit over the past 30 days.

Arkham trace data documents coordinated fund flows — large transfers from 0x2eA to 0x4f9 and subsequent injections into trading addresses (0xb31/0xb317) — with 0x4f9 retaining approximately 386 million USDC; on-chain closes on October 11 realized significant gains, including ~30,000 ETH shorts (~72.32M USD) and BTC short exits exceeding ~85M USD.

The synchronized timing has generated community scrutiny but no proven misconduct; market participants should monitor on-chain metrics such as liquidation price, margin utilization and concentrated liquidity to assess systemic risk without assuming unverified insider activity.