Whale Hyperliquid Exposed: Investigating the Mysterious Trader’s Past and Profile (October 2025 Update)

• Who Is the Hyperliquid Whale Making Millions From Market Crashes?
• Hyperliquid's Transparency: Strength or Vulnerability?
• The BitForex Connection: Too Obvious to Be True?
• The $3.2 Billion Question: Stolen Funds or Legitimate Trading?
• Hyperliquid's Market Performance During the Crash
• FAQ: Your Hyperliquid Whale Questions Answered

The crypto world is buzzing about the Hyperliquid whale who allegedly made $142M by shorting BTC and ETH right before the recent market crash. On-chain investigators claim this trader (ereignis.eth) connects to garrettjin.eth - the former CEO of troubled exchange BitForex. While the evidence seems compelling, some analysts warn these "obvious" connections might be too convenient. Meanwhile, Hyperliquid's transparent CLOB system continues to outperform competitors during market turmoil.

Who Is the Hyperliquid Whale Making Millions From Market Crashes?

Several on-chain investigators have identified what they believe to be the master wallet (ereignis.eth) behind Hyperliquid's current whale activity. According to their analysis, this address links to garrettjin.eth - an ENS name that redirects to the verified X account of Garrett Jin, former CEO of BitForex. The timing is suspicious: this trader opened massive short positions on BTC and ETH just hours before the October 2025 market dump, realizing $142 million in profits. As Specter (@SpecterAnalyst) noted: "The trading address links to a wallet holding 29,321 BTC (~$3.2B), which could potentially be stolen funds."

Hyperliquid's Transparency: Strength or Vulnerability?

Hyperliquid has gradually become one of the most profitable decentralized derivative markets this cycle, primarily through its Central Limit Order Books (CLOB) - public, transparent order books. While this transparency builds trust, it also exposes traders to potential targeting. "By being naked to users, the platform is also naked to bad actors," notes BTCC analyst Mark Chen. The whale's positions were visible to all, including competitors who might front-run such large trades.

The BitForex Connection: Too Obvious to Be True?

BitForex, led by Garrett Jin from 2017-2020, faced multiple controversies including volume inflation accusations from Japanese regulators and fraud alerts from Hong Kong's SFC. The current investigation reveals several red flags:

• ENS identity matches between ereignis.eth and garrettjin.eth
• Fund flows between BitForex-associated addresses and Binance deposits
• Massive short positions opened on Hyperliquid (including a $735M BTC short)
• Interactions with staking contracts and exchange addresses linked to Jin's network

Yet analyst Quinten François urges caution: "Why WOULD an experienced operator leave such obvious breadcrumbs? ENS is literally an identification system - not exactly discreet."

The $3.2 Billion Question: Stolen Funds or Legitimate Trading?

The most alarming discovery is the whale's connection to a wallet containing 29,321 BTC. Given BitForex's history of user fund freezes and regulatory issues, investigators speculate these could represent misappropriated exchange assets. However, without conclusive evidence, these remain theories. "The links exist but don't yet FORM definitive proof," cautions the BTCC research team.

Hyperliquid's Market Performance During the Crash

Despite the controversy, Hyperliquid maintained flawless operation during the historic crash while competitors suffered latency issues and token depegging. The platform's high-frequency trading capabilities proved robust, though as always in derivatives trading, the risks remain extreme. For less experienced traders, alternatives like memecoin presales might be preferable - though we remind readers that cryptocurrencies remain high-risk investments.

FAQ: Your Hyperliquid Whale Questions Answered

How much did the Hyperliquid whale profit?

The trader realized approximately $142 million from short positions opened just before the October 2025 market crash.

What evidence links the whale to BitForex?

Investigators found ENS identity matches, fund flows between associated addresses, and trading patterns consistent with someone having exchange-level resources.

Is Hyperliquid safe to use given this situation?

The platform's technology performed flawlessly during the crash. The controversy involves a specific trader's potential misconduct, not platform security.

Could the $3.2B in linked BTC be stolen?

While possible given BitForex's history, this remains unproven. The funds could represent legitimate trading capital.

Why would a sophisticated trader leave obvious clues?

As Quinten François noted, this is the million-dollar (or billion-dollar) question. Either extreme carelessness or possible misdirection.