Hyperliquid Bitcoin Whale Tied to Ex-BitForex CEO Garrett Jin
Crypto researcher Eye has linked the Hyperliquid Bitcoin whale controlling over 100,000 BTC to former BitForex CEO Garrett Jin. This Hyperliquid Bitcoin whale revelation underlines the importance of monitoring on-chain activity and whale movements. On-chain analysis ties the wallet ereignis.eth to garrettjin.eth and Jin’s verified X account. Transaction patterns—including transfers to ETH staking contracts, Huobi (HTX), BitForex-related addresses and a $735 million BTC short position on Binance—mirror Jin’s past operations.
From 2017 to 2020, Jin led BitForex amid allegations of fabricated volumes, a Japanese FSA warning, a $57 million hot-wallet hack and its shutdown. After founding the ETH staking platform XHash.com in 2024, he removed its references following the whale link.
Analysts question whether the ENS link is too deliberate. Traders should monitor BTC price impact, on-chain flows and exchange scrutiny, as large whale flows and short positions may trigger volatility and affect market trust.
Bearish
The Hyperliquid Bitcoin whale revelation linking over 100,000 BTC to Garrett Jin is likely bearish for Bitcoin. Short-term, traders may sell in anticipation of large whale movements or additional short positions, amplifying volatility. The $735 million BTC short on Binance heightens downside risk. Exchange scrutiny and potential regulatory action against Jin and his projects could undermine market trust and liquidity. In the long term, persistent on-chain transparency concerns and whale concentration may deter investor confidence, adding selling pressure. Traders should watch for large BTC outflows, short liquidations and regulatory updates to gauge potential price declines.