The personalized insider who challenged the market: how Garrett Jin lost $128 million

Garrett Jin’s journey in the crypto universe is filled with controversies and questionable decisions. As the founder of BitForex — the exchange that disappeared in 2024 taking $57 million in user funds amid Hong Kong regulatory fraud alerts — his reputation was already damaged. Users never recovered even a portion of their losses.

The insider move that raised suspicion

On October 11, 2025, Garrett opened a massive short position of $1.1 billion in BTC and ETH through Hyperliquid. The timing was impeccable — or extremely suspicious, depending on who you ask. One minute after his trade, Trump announced 100% tariffs on China. The market plummeted, triggering $19 billion in liquidations within 24 hours. His PnL jumped to $200 million in a single day.

The coincidence was so remarkable that CZ personally reposted the on-chain investigation. Arkham labeled his wallet as “Trump Insider Whale” — suggesting insider information. The crypto community exploded with accusations, although Garrett denied any irregular involvement, claiming his personalized macro analysis was just “executing a strategy.”

The optimistic turn that destroyed everything

Drunk with victory, Garrett flipped to the opposite side of the market. He opened colossal long positions in BTC and ETH, repeating the move that made him legendary. It seemed his personalized market insight was invincible.

But the market had other plans. ETF fund outflows, fears over tariffs, and BTC dropping to around $77,000. His positions hemorrhaged. The liquidation came, and with it, a loss of $128 million.

The market lesson

Even those who seem to see the future can’t always win. Garrett Jin’s personalized insider strategy — a mix of bold macro analysis and perfect timing — was insufficient against crypto volatility. In the end, the market always exacts its price.

Current data (Feb 13, 2026): BTC is trading at $68.9K (+4.73% in 24h) and ETH at $2.06K (+7.59% in 24h)