Mystery Altcoin Whale's $50 Million Trading Blunder: Identity Linked to Bitcoin Supporter?

On the Ethereum (ETH) network, a transaction has sparked widespread attention in the cryptocurrency market. According to on-chain data, a user exchanged approximately $50.4 million USDT for only about $36,000 worth of AAVE, resulting in a loss of over $50 million. Despite the identity of the user who lost $50 million due to the significant error remaining undisclosed, it is believed that he may be Bitcoin supporter Garrett Jin.

On-chain analysis platform Lookonchain pointed out that Bitcoin supporter Garrett Jin is suspected of making a mistake in a $50 million USDT transaction. Lookonchain stated that the anonymous investor mistakenly exchanged $50.4 million USDT for only 325 AAVE (worth $36,000) on the Cow Swap platform, and is suspected to be Garrett Jin, the founder of BitForex and a well-known Bitcoin supporter.

"The person who exchanged 50.43 million aEthUSDT for only 327 aEthAAVE ($36,000) is very likely actually Garrett Jin (BitcoinOG1011short)!" Lookonchain reported 13 wallets related to the incident through on-chain tracking and found that one of the wallets matched Jin's deposit address on Binance. The company pointed out that the timing of the transaction coincided with Jin's purchase of USDT and USDC after selling 261,000 ETH (approximately $543 million) and 11,318 BTC (approximately $761 million) on February 15th and 20th, and that these sales were consistent with the time the relevant wallets withdrew stablecoins from Binance. *This article does not constitute investment advice.