An onchain investigation by Crypto researcher Eye links the mysterious hyperliquid whale, which controls more than 100,000 BTC, Garrett Jin, the former CEO of BitForex, a now-defunct exchange riding in a fraud scandal.
On a Saturday Post In X, Onchain Sleuth noted that the main wallet of the whale, ereignis.eth, is connected to another name of Ens, Garrettjin.eth, which directly leads to Jin’s verified X (Twitter) account, @garrettbullish.
“The name of Ens Ereignis.ethis (” Event “in German) confirms his link in this purse, recognizing him as an actor behind the large -scale hyperliquid/hyperunit operation,” Eye wrote to X.
The purse activity also matched Jin’s well -known business dealings, including transfers to staking contracts and addresses funded by exchanges he had past, such as Huobi (HTX).
Moreover, the whale purse received and sent funds to track back to Bitforex -related addresses and Binance deposits used to open massive trading, including a $ 735 million Bitcoin (Btc) short.
Related: The businessman
Bitforex accused fraud
Jin led Bitforex from 2017 to 2020. The exchange has been accused of incorrect trading quantities and that Japan’s financial service agency has been replaced for operation without registering.
In 2024, Bitforex lOst $ 57 million From its hot wallets, the removal was frozen and eventually closed after its team was detained in China. The sfc of hong kong later issued a warning for suspected fraudand users claim millions of unspecified funds.
Following the fall of Bitforex, Jin established several adventures, including Wavelabs VC (2020), Tanglepay (2021), Iotabee (2022) and GroupFi (2023). Most of these projects are from inactive.
In 2024, he launched Xhash.com, a platform for institutional Ethereum staking, which allegedly investigators could have been used to injure these dude funds. After the allegations appeared, Jin reported that Xhash was removed from his bio on social media, even though it remained visible on his telegram account.
Related: Metamask, Infinex Tap Hyperliquid to challenge CEXs in the Perps market
Not all are convinced
Crypto analyst Quinten François stated Doubt on claims that link the Hyperliquid Whale to the former Bitforex CEO, contingent that evidence can be convenient.
“Why would you have a .eth name that leads to your X handle in a purse that directly connects to market manipulation wallets and purses for other crime?” He wrote to X, adding that such a scheme would “sound too simple to be true.”
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