Hacking News
Tornado Cash Whale Deposits $7 Million to Hyperliquid for Bitcoin Long
An anonymous Tornado Cash wallet, suspected to be a Tornado Cash whale, deposited $7 million to the decentralized exchange Hyperliquid to open a large long position on Bitcoin. The wallet used aggressive 20x leverage, likely to profit from Bitcoin's potential outperformance over Ether. The deposit was made after the wallet previously withdrew 3,100 ETH from Tornado Cash and swapped all of the Ether through CoW Swap, locking in $6.92 million in USDC. The position consists of $12.84 million in BTC at an entry price of $75,762.2 and a short of 5,740 ETH worth $12.83 million. The wallet's strategy aims to profit from the expected outperformance of Bitcoin over Ether, given the dominance of the two largest cryptocurrencies in the market.