Wallet controversy and online debate
Eye later claimed Jin was a Hyperliquid whale controlling over 100,000 BTC. Jin responded by saying the wallet belonged to a client and criticized former Binance CEO Changpeng Zhao for sharing “personal and private information” by reposting Eye’s X post to over 10 million followers.
Not everyone is convinced by Eye’s findings. Crypto sleuth ZachXBT suggested a “friend of Jin” might be behind the trades, while analyst Quinten Francois described the evidence as “too convenient” to directly link Jin to the wallet.
Insider trading in crypto: A recurring concern
Allegations of insider trading are not new in the crypto world. Earlier this year, traders made over $482,000 on Bubb (BUBB) memecoin, according to Lookonchain, shortly before its price dropped 50%. Similarly, Trump’s official TRUMP token attracted attention after a wallet purchased $6 million within a minute of its launch.
While Garrett Jin denies any wrongdoing, the incident highlights ongoing concerns about market manipulation and transparency in the crypto industry.