According to news from October 12, on-chain analyst Eye revealed on the X platform that a giant whale on the HyperLiquid platform may be related to a former executive of a certain exchange, Garrett Jin. This giant whale holds more than 100,000 BTC and has sold over $4.23 billion worth of BTC in a short period, converting the funds into ETH. Specifically, this giant whale sold over 35,000 BTC through the HyperLiquid/Hyperunit platform, using multiple BTC wallets, and exchanged it for ETH. Meanwhile, the ETH staking contract address it deployed received funding from a wallet, with the first funds from 'ereignis.eth', whose associated second ENS domain 'garrettjin.eth' points to Garrett Jin's X platform user account.

What’s more concerning is that Garrett Jin still holds 46,295 BTC (worth about $5.19 billion) in these addresses. After Eye's post, Garrett Jin quickly modified the privacy settings on Telegram, hiding previously public photos and phone numbers, and removed XHash information from his profile, seemingly trying to cover something up. In response, CZ retweeted and stated: 'The authenticity of this information is still uncertain, and I hope someone can verify it further.'