Crypto researcher Eye has linked the Hyperliquid whale, controlling 100,000 BTC, to former BitForex CEO Garrett Jin. The whale’s wallet activity matched Jin’s known business dealings, including transfers to staking contracts and addresses funded by exchanges he had past ties with. The whale’s wallet was involved in a $735 million BTC short trade. Eye confirmed the link on X.

Former BitForex CEO Garrett Jin faced accusations of fraud after the exchange was accused of falsifying trading volumes and flagged by Japan’s Financial Services Agency. BitForex lost $57 million in 2024, froze withdrawals, and ultimately shut down. Jin founded multiple ventures post-BitForex collapse, including WaveLabs VC, TanglePay, IotaBee, and GroupFi.

Not everyone is convinced of the link between the Hyperliquid whale and former BitForex CEO Garrett Jin. Crypto analyst Quinten François expressed skepticism over the claims, questioning the convenience of the evidence presented. François argued that the setup connecting Jin to the whale “sounds way too simple to be true.”

Read more at Cointelegraph: Investigation Links 100K BTC Hyperliquid Whale to Former BitForex CEO