The high-profile exchange of ETH by the BTC Whale's identification has been exposed: suspected to be former BitForex CEO Garrett Jin.

On October 12, on-chain detective Eye published an analysis stating, "An identity investigation targeting the mysterious Hyperliquid Whale (holding over 100,000 BTC). Recently, he sold over $4.23 billion worth of Bitcoin (BTC) in exchange for Ethereum (ETH), and it was he who placed a $735 million short order for Bitcoin on the same platform. During August and September, he sold over 35,000 BTC in exchange for ETH through a series of Bitcoin wallets using Hyperliquid's Spot and Perpetual Futures. He staked a large amount of ETH, with the deployed funds coming from wallet 0x1CB7B54AAB4283782b8aF70d07F88AD795c952E9, which initially received funds from the BSC chain's ereignis.eth. After the staking contract was deployed, the first wallet to interact with it was ereignis.eth, which deposited 32 ETH into the contract. Further investigation into the ereignis.eth address revealed that it was also linked to a second ENS domain garrettjin.eth, which corresponds to X user @GarrettBullish. Garrett Jin graduated from Boston University with a degree in Economics in 2008. He interned and worked at China Construction Bank from 2008 to 2011. In 2012, he founded his first company Da Yo Trading (HK), which operated until 2014. He then entered the crypto industry and served as the Operations Director of CEX (CEX/CEX) until 2015. He later moved to Frankfurt, Germany, and co-founded FuLang Medical Germany GmbH, a medical platform, but left in 2017. From 2017 to 2020, Garrett served as the CEO of BitForex. The trading platform later became embroiled in a scandal for allegedly faking trading volume and was warned by the Japanese Financial Services Agency (FSA) in 2023 for operating illegally without registration. In February 2024, the private key of BitForex's Hot Wallet was leaked, resulting in approximately $57 million in assets being transferred out without any reasonable explanation. After that, the official website became inaccessible, withdrawals were frozen, and operations were completely halted. In July of the same year, BitForex claimed that the team was under investigation by the police in Jiangsu, China, and planned to allow only users who had completed KYC to withdraw funds, suspending all trading and deposits for "thorough rectification." This Whale's massive Bitcoin holdings were primarily withdrawn from trading platforms such as CEX, CEX, ViaBTC, Bixin, and CEX around 7 to 8 years ago, forming a suspicious link related to his past incidents with CEX and BitForex. Garrett is also the founder of @XHash_com (since 2024), which provides non-custodial ETH staking services for institutions. Currently, Garrett's address still holds 46,295 BTC (approximately $5.19 billion at current prices).