BitForex Founder Garrett Jin Withdraws Entire $150 Million in USDC From Hyperliquid
JOON HYOUNG LEE
Summary
- BitForex founder Garrett Jin reportedly withdrew $150 million in USDC from global decentralized exchange Hyperliquid (HYPE).
- An address linked to Jin withdrew its entire $147 million in USDC from Hyperliquid that day, and all of the funds were deposited into global cryptocurrency exchange Binance.
- The balance in the Hyperliquid address linked to Jin has been fully drained, and he faces allegations of insider trading during last October's crypto liquidation event.
Forecast Trend Report by Period
BitForex founder Garrett Jin has withdrawn all $150 million in Circle's USDC from global decentralized exchange Hyperliquid (HYPE).
BlockBeats and other outlets reported on Sept. 24 that an address linked to Jin withdrew its entire $147 million USDC balance from Hyperliquid that day.
All of the withdrawn funds were deposited into global cryptocurrency exchange Binance. The Hyperliquid address linked to Jin has now been fully drained.
Jin, meanwhile, has faced allegations that he profited from insider trading during the crypto liquidation event in October last year, one of the largest such incidents on record.
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul