Crypto Sleuth Unravels the Mystery: Former CEO and 100,000 BTC Whale Linked!

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Well, well, well… grab your magnifying glasses, dear reader, because there’s a juicy tale bubbling up from the murky depths of the crypto world! An onchain detective, Eye (yes, just Eye, like a mysterious cryptic eye 👀), has uncovered a connection between a whale-no, not the sea creature, but a 100,000 BTC whale-and none other than Garrett Jin, the former CEO of the now-defunct BitForex exchange. And guess what? It’s all tangled up in a juicy fraud scandal. How delightful!

In a very cryptic Saturday post on X (formerly Twitter, where else would the drama unfold?), Eye spotted something quite peculiar. The whale’s main wallet, “ereignis.eth,” which sounds suspiciously like a secret agent name (it means “event” in German, for the cultured among us), is mysteriously linked to another ENS name, “garrettjin.eth.” Hmm, coincidence? Probably not. And if that wasn’t enough, this all leads to Jin’s very own verified X (Twitter) account @GarrettBullish. You’ve got to love the confidence there!

“Aha!” cried Eye. “The ENS name ereignis.eth ties everything together. It’s like a big shiny bow on this tangled web of crypto madness, confirming Garrett is the puppet master behind the large-scale chaos on Hyperliquid/Hyperunit.” 🎭

But wait, there’s more! The wallet’s activity wasn’t just your average “oops, I moved some coins” kind of deal. No, no, no. It was matching Jin’s business dealings, including some shady-looking transfers to staking contracts and addresses tied to exchanges he’s had some, let’s call it “interesting” relationships with, like Huobi (HTX). And for a cherry on top, this whale’s wallet sent and received money from BitForex-related addresses and even Binance deposits used to open gigantic trades-including a mind-boggling $735 million Bitcoin short. I mean, who needs a yacht when you’re making moves like this, right? 🛥️

BitForex Gets a Shady Reputation

So, who is this Garrett Jin fellow, you ask? Well, let’s just say his history isn’t as squeaky clean as you’d hope for a crypto CEO. He ran BitForex from 2017 to 2020, and during his reign, the exchange was accused of faking trading volumes (no surprise there) and was flagged by Japan’s Financial Services Agency for not even bothering to register. Classic move!

Then, in 2024, BitForex lost a jaw-dropping $57 million from its hot wallets. It froze withdrawals (talk about bad timing!) and ultimately shut down after the whole team got detained in China. Hong Kong’s SFC later issued a fraud warning, and users? Well, they claimed millions in funds that they’ll never see again. Who’s laughing now? 😂

After BitForex fell apart like a house of cards, Garrett got creative. He launched a bunch of new projects, like WaveLabs VC (2020), TanglePay (2021), IotaBee (2022), and GroupFi (2023). Spoiler alert: most of these went belly-up faster than you can say “blockchain.”

But the real kicker? In 2024, Jin unveiled XHash.com, a platform for institutional Ethereum staking. Allegedly, this little gem was a prime spot for onboarding *questionable* funds. After some rather unpleasant accusations, Jin quickly removed XHash from his social media bio (because that’s going to help, right?). But guess what? It’s still proudly visible on his Telegram account. Nice try, Garrett! 📱

Not Everyone’s Buying It

But hold your horses, folks! Not everyone’s convinced that Jin’s the mastermind behind this whale of a mystery. Crypto analyst Quinten François isn’t having any of it. He’s got some serious doubts about the whole affair. In a fiery post on X, he asked, “Why would you have an .eth name leading to your X handle in a wallet that directly connects to market manipulation wallets and wallets for other crime? Sounds *way* too simple to be true, right?” Oh, Quinten, always the skeptic. 🙄

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2025-10-12 11:00