Garrett Jin’s 3x Bitcoin long posts more than $4 million in gains

  • Garrett Jin holds a 3x leveraged long position on 600 BTC.
  • More than $4 million in unrealized gains have accrued on Jin’s Bitcoin position.
  • The allegations concern trading before October 2024’s largest forced liquidation event.

Garrett Jin, founder of the cryptocurrency exchange BitForex and previously identified as the representative of the "1011 insider whale," has unrealized gains exceeding $4 million on a 3x leveraged Bitcoin long, according to Hyperbot data. Jin added 600 BTC to the position two days ago when Bitcoin was trading at approximately $79,000. Separately, his 32,700-token ZEC short, opened at an average price of $444 and valued at $25.28 million, is showing an unrealized loss of more than $11.5 million. The trades come amid unresolved allegations that Jin used non-public information to profit before the largest forced liquidation event in cryptocurrency history, which occurred in October 2024. No formal charges have been confirmed, and Jin has not issued a detailed public response.

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