This Alleged “Fat-Finger” Made $300M Just In One Week: Who Is It?

Two latest eye-catching occasions—the risky XPL “arbitrage” on Hyperliquid, a number one DEX, and the launch of the Trump family-led WLFI venture—have been revealed to share a connection via a single, mysterious determine: an nameless dealer referred to as TechnoRevenant.

Whereas his identification stays unknown, his actions are loud—he amassed practically $300 million in on-chain earnings in only one week.

The WLFI Connection and a $245M Place

Monday night, WLFI started buying and selling on main world crypto exchanges, inflicting Ethereum fuel charges to spike above 100 Gwei for the primary time in months. The pockets deal with moonmanifest.eth, holding a billion WLFI tokens, started to say its share.

TechnoRevenant’s WLFI Buy Historical past. Supply: Etherscan

Chinese language media Blockbeats cited on-chain monitoring providers like Etherscan and reported that this deal with belonged to an X consumer, TechnoRevenant, the dealer who famously profited $38 million on Hyperliquid only a week earlier.

Sources reveal that TechnoRevenant has been concerned with the World Liberty Monetary venture since January 2025, even earlier than Donald Trump took workplace. He was an early backer, investing $15 million within the first token sale.

He gathered 1 billion WLFI tokens. On September 1, when WLFI formally began buying and selling, he claimed 200 million, with the remaining 800 million nonetheless locked. On the present value of $0.245, his 1 billion WLFI is price $245 million, representing an 8- to 16-fold return on paper on his preliminary funding.

The “Fats-Finger” Incident on Hyperliquid

Past his connection to the Trump household’s venture, TechnoRevenant shocked the market with a large, and supposedly unintentional, revenue on Hyperliquid. On the morning of August 27, the decentralized derivatives alternate noticed an irrational value spike within the Plasma venture token, XPL.

This surge triggered mass liquidations that affected greater than 1,000 merchants. Over two hours, the liquidations worn out roughly $159 million in positions. Investigators discovered a number of addresses that purchased giant token portions. These purchases apparently tried to govern the illiquid XPL pre-market.

TechnoRevenant claimed to be a mere “newbie” and insisted his commerce was a “fat-finger” accident. Nonetheless, a better have a look at his transactions raises questions on his protection. Whereas he was bullish on XPL, he didn’t take part within the presale. He says he started accumulating after Hyperliquid opened pre-market perpetual contract buying and selling, utilizing three separate wallets to purchase at $44,000 per session. This technique reportedly allowed him to gather 54.4 million XPL over two days, price between $31 million and $33 million.

However in a single 15-second window from 5:36:05 to five:36:20 am, he allegedly made a “mistake.” He claimed he was “drowsy” and by accident added an additional “4” ten occasions to his purchase order. This turned a $44,000 buy right into a $4.44 million order. His large buy-in totaled 7,288,505 XPL tokens. This represented 77.37% of all lengthy positions at the moment. The order despatched the value hovering by 10.8% in only one minute.

He panicked, borrowing $3 million to cowl a possible liquidation, however didn’t notice his place was too huge to be in danger. Hyperliquid’s auto-deleveraging mechanism kicked in, and he continued shopping for in $45,000 increments for an additional quarter-hour earlier than slowly closing his lengthy positions. In the long run, he walked away with a $38 million revenue.

As of now, he nonetheless holds over $30 million in XPL lengthy positions, accounting for 87% of the overall open curiosity on Hyperliquid. He has a $26 million struggle chest prepared for extra buys, which has triggered XPL’s value on Hyperliquid to keep up a 20-30% premium over different exchanges.

Opportunist? Or Market Manipulator?

TechnoRevenant’s actions have sparked a fierce debate within the crypto group. His supporters reward him as a legendary dealer with an unmatched really feel for the market. Influencers like Zhu Su have defended him, stating his actions had been simply “regular buying and selling conduct.” Nonetheless, critics argue that he used his deep pockets to govern a fragile market.

On-chain knowledge provides one other layer to the thriller. His pockets, moonmanifest.eth, had eight USDC transfers totaling $27 million with Bounce Buying and selling and confirmed frequent interactions with main market makers like Wintermute and Amber.

He additionally invested $15 million in WLFI’s earliest levels, when its token lock-up and itemizing standing had been extremely unsure. These clues recommend TechnoRevenant is just not an odd retail investor however an expert dealer with institutional backing.

This case has additionally raised considerations in regards to the on-chain “pre-IPO” mannequin. As banterlytics famous on X, “You’ve seen TechnoRevenant have already got such a big impression on a token’s pre-market. Think about what would occur on a pre-IPO with much more insider data.”

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