Investigation ties 100,000 BTC Hyperliquid whale to former BitForex CEO
An onchain investigation by crypto researcher Eye has linked the mysterious Hyperliquid whale, who controls over 100,000 $BTC , to Garrett Jin, the former CEO of BitForex, a now-defunct exchange embroiled in a fraud scandal. In a Saturday post on X, the onchain sleuth noted that the whale’s main wallet, ereignis.eth, was connected to another ENS name, garrettjin.eth, which directly leads to Jin’s verified X (Twitter) account, @GarrettBullish. “The ENS name ereignis.eth (“event” in German) confirms his link to this wallet, identifying him as the actor behind the large-scale operations on Hyperliquid/Hyperunit,” Eye wrote on X. The wallet activity also matched Jin’s known business dealings, including transfers to staking contracts and addresses funded by exchanges he had past ties with, such as Huobi (HTX). Further, the whale’s wallet received and sent funds that traced back to BitForex-related addresses and to Binance deposits used to open massive trades, including a $735 million Bitcoin short.
BitForex accused of fraud Jin led BitForex from 2017 to 2020. The exchange was later accused of falsifying trading volumes and flagged by Japan’s Financial Services Agency for operating without registration. In 2024, BitForex lost $57 million from its hot wallets, froze withdrawals and ultimately shut down after its team was detained in China. Hong Kong’s SFC later issued a warning for suspected fraud, and users claimed millions in unrecovered funds. Following BitForex’s collapse, Jin founded several ventures, including WaveLabs VC (2020), TanglePay (2021), IotaBee (2022) and GroupFi (2023). Most of these projects have since become inactive. In 2024, he launched XHash.com, a platform for institutional Ethereum staking, which investigators allege may have been used to onboard questionable funds. After the allegations surfaced, Jin reportedly removed XHash from his social media bio, though it remains visible on his Telegram account. Not everyone is convinced Crypto analyst Quinten François expressed skepticism over the claims linking the Hyperliquid whale to the former BitForex CEO, arguing that the evidence may be too convenient. “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?” he wrote on X, adding that such a setup “sounds way too simple to be true.” #bitforex
$COAI is showing signs of a potential bullish reversal after forming a clear double bottom pattern near the $5.8 support zone. The price has respected this key demand area multiple times, indicating strong buying interest.
The next resistance lies between $6.8 – $7.0, and if the momentum continues, we could see a breakout toward the $8.0+ zone. 🚀
Key Levels:
🔻 Support: $5.8 – $6.0
🔺 Resistance: $6.8 – $7.0
🎯 Target: $8.1
Setup: Reversal pattern forming after downtrend — watch for a breakout confirmation!
Expert says leveraged traders liquidated billions in positions as digital assets experienced sharp decline, but 'tomorrow is a new day The crypto market was rocked by a dramatic plunge Saturday, marking one of the sharpest single-day drops in recent history and wiping out billions in value, one expert told FOX Business.
The sudden collapse followed the U.S. government’s announcement of new tariffs on Chinese tech imports, a move that rattled investors and triggered panic.
Joshua Duckett, director of investigations at a crypto forensic firm, said traders had been forced to liquidate positions, sending prices into free fall. #CryptoMarketAnalysis #TrumpTariffs
Crypto traders blame Trump’s tariffs in search of ‘singular event’: Santiment
Crypto retail traders were quick to blame Friday’s broader crypto market decline on US President Donald Trump announcing a 100% tariff on China, as they often look for something to point the finger at during downturns, according to Santiment. Analysts, however, say the reason for the market slump runs deeper than the tariffs alone. “This is typical 'rationalization' behavior from retailers, who need to point to a singular event as the reason for a cataclysmic downturn in crypto,” Santiment said in a report on Saturday.#TrumpTariffs #CryptoTrades
In the past 24 hours , 204,763 traders were liquidated , the total liquidations comes in at $572.79 million The largest single liquidation order happened on Binance - $ETH ETHUSDT value $11.52M#Liquidations
Altcoins Crash 📉 $BTC $XRP $ETH U.S.–China tensions rise after Trump threatens massive tariffs. Global fear grows — is Bitcoin the next safe haven? 🧐 #CryptoNewsFlash #Altcoins #bitcoin.” #USChina
COAI has recently gained attention due to its volatile price moves and frequent appearances on trading charts. Many traders are asking — is it a real project or a scam token?
Here’s what we know 👇
✅ What Looks Legit:
$COAI listed on major exchanges like Binance, which adds credibility.
The token has active trading volume and visible liquidity.
Price action follows typical market behavior — not a clear rug-pull pattern.
⚠️ What to Be Careful About:
The project fundamentals (team, roadmap, and use case) are not widely known.
Some tokens can still be highly speculative or community-driven, meaning big risk.
Always verify through official sources (Binance announcements, CoinMarketCap, or project site).
💬 Verdict:
COAI doesn’t show scam signals right now, but it’s a high-risk speculative coin. Trade smart — use stop-loss and avoid emotional buying during pumps.