A new investigation by blockchain researcher Eye has pointed to a possible connection between Hyperliquid
$317.16M
trader and Garrett Jin, former head of BitForex.
In a post on X published on October 11, Eye explained that the main wallet used by this trader, who holds more than 100,000 BTC
This wallet is linked to another Ethereum Name Service (ENS)
Did you know?
Subscribe – We publish new crypto explainer videos every week!
What is AVAX? (Avalanche Network Explained With Animations)
Based on this connection, Eye noted that Jin is behind the large trading positions seen on Hyperliquid.
The post further outlines how transactions from the wallet in question show patterns tied to Jin’s previous work in the crypto industry. The wallet has been used for staking and has received funds from addresses tied to past exchanges, including Huobi (also known as HTX).
Some of the funds also came from BitForex-related sources and were later transferred to Binance
$19.33B
, where they may have funded high-volume trades, such as a notable $735 million short on Bitcoin.
Despite the on-chain connections raised by Eye, Crypto analyst Quinten François questioned the logic of the evidence.
He stated in a post on X that it would be unusual for someone potentially involved in wrongdoing to use an ENS name that directly links to their public identity.
Meanwhile, a cryptocurrency trader recently grew a $3,000 investment into $2 million within hours. How did that happen? Read the full story.
