Analysis: The whale that allegedly sold over $4.23 billion in BTC to swap for ETH is suspected to be Garrett Jin, a former executive of a certain exchange

ChainCatcher news, on-chain analyst Eye disclosed on the X platform that a HyperLiquid whale holding over 100,000 BTC and having sold over $4.23 billion in BTC to swap for ETH may be associated with former exchange executive Garrett Jin.

During August and September, this entity sold over 35,000 BTC using a series of BTC wallets through Hyperliquid/Hyperunit and exchanged them for ETH. The address where its staked ETH contracts were deployed received funding from a wallet, which initially received funds from "ereignis.eth," and the second ENS domain associated with that address, "garrettjin.eth," points to X user Garrett Jin. Currently, Garrett still holds 46,295 BTC (worth $5.19 billion) in these addresses.

In response to this analysis, Zhao Changpeng retweeted, "It is still uncertain whether this is true and accurate; I hope someone can verify it."