An in-depth exploration by blockchain researcher Eye suggests a possible connection involving a major Hyperliquid
$349.94M
operator and Garrett Jin, who previously held a key position at BitForex.
Eye’s report, shared on X on October 11th, details how the primary digital wallet controlled by this trader – a holder of over 100,000 Bitcoin
This digital wallet is associated with another Ethereum Name Service (ENS)
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Based on these associations, Eye’s research suggests that Jin is potentially the individual behind the significant trading activity observed on Hyperliquid.
The report further details how transaction patterns from the wallet under scrutiny exhibit characteristics linked to Jin’s prior professional engagements within the cryptocurrency sector. This wallet has been utilized for staking purposes and has received funds from various addresses connected to previous exchanges, including the platform known as Huobi (or HTX).
Notably, a portion of the funds originated from sources associated with BitForex, later being transferred to Binance
$17.16B
. This transfer may have been to facilitate substantial trading ventures, such as a prominent $735 million short position on Bitcoin.
Despite the connections highlighted by Eye through on-chain data, crypto analyst Quinten François has raised concerns regarding the soundness of the presented evidence.
In a comment posted on X, he expressed doubts, suggesting that it would be atypical for an individual engaged in potentially questionable activities to employ an ENS name directly traceable to their publicly known identity.
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