A blockchain investigation linked a significant BTC trader called a ‘Hyperliquid whale’ to former BitForex co-founder Garrett Jin, unveiling past industry connections and alleged illegal activities in crypto trading.

The revelation underscores potential regulatory concerns and highlights market vulnerabilities, affecting liquidity and prompting discussions on transparency in major cryptocurrency exchanges.

An on-chain investigation has identified a Hyperliquid whale as Garrett Jin, co-founder of BitForex. Blockchain traces reveal substantial BTC trades, exposing deeper industry links and criminal history. The whale’s activity has impacted several major cryptocurrencies.

Jin and others have influenced financial operations within the crypto sector. The involved actors used significant amounts of BTC to manipulate markets, sparking widespread concerns and speculation in the digital asset community.

Market Reactions to Whale’s Massive BTC Deposits

The massive BTC deposits by the whale affected market liquidity and volatility. Observers have called for increased transparency in crypto transactions, referencing potential regulatory oversight and market discipline. Industry reactions emphasize vigilance against such large-scale market manipulations.

Financial consequences include significant losses and forced adjustments in protocol leverage limits for Hyperliquid. Historical trends indicate that such events may spur stronger regulatory responses and increased scrutiny in the crypto industry, potentially reshaping market practices.

Lessons from Alameda-FTX and Crypto Vulnerabilities

Similar events, such as the Alameda-FTX vault issues, have led to massive liquidity losses. These historical events underscore the vulnerability of crypto platforms to strategic trades resulting in drastic market shifts, often leading to protocol amendments.

Experts emphasize the potential shift in crypto dynamics, drawing parallels with past incidents. The data suggests that comprehensive reviews and enhanced market surveillance may deter future occurrences, aiding in the stabilization of market conditions.

“The identity of the Hyperliquid whale is now public. Blockchain analysis tied the funds back to major criminal networks and prior exchange executives.” — ZachXBT

Disclaimer: This website provides information only and is not financial advice. Cryptocurrency investments are risky. We do not guarantee accuracy and are not liable for losses. Conduct your own research before investing.

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Filed under: News - @ October 12, 2025 8:12 am