The Identity of the Mysterious Altcoin Whale Who Made a Huge $50 Million Mistake May Be Revealed! There’s a Bitcoin Connection!

A transaction on the Ethereum ($ETH) network has attracted significant attention in the cryptocurrency market. According to on-chain data, a user exchanged approximately $50.4 million worth of $USDT for only about $36,000 worth of $AAVE, resulting in a loss of over $50 million.

The identity of the user who lost $50 million due to a major mistake has not been revealed, but it is believed to be Garrett Jin, a Bitcoin supporter.

According to the on-chain analytics platform Lookonchain, Bitcoin supporter Garrett Jin is suspected of making a mistake in a $50 million $USDT swap.

According to Lookonchain, the anonymous investor who mistakenly swapped 50 million $USDT for only 325 $AAVE ($36,000) on the Cow Swap platform is suspected to be Garrett Jin, the founder of BitForex and a prominent Bitcoin supporter.

“The person who exchanged 50.43 million aEthUSDT for only 327 aEthAAVE ($36,000) might actually be Garrett Jin (BitcoinOG1011short)!”

Lookonchain reported identifying 13 wallets linked to the incident using on-chain tracking. Lookonchain found that one of these wallets matched a Binance deposit address belonging to Jin.

The firm stated that the timing coincided with Jin’s purchase of $USDT and $USDC following the sale of 261,000 $ETH ($543 million) and 11,318 BTC ($761 million) on February 15 and 20, and that these sales coincided with the times when the relevant wallets withdrew stablecoins from Binance.

*This is not investment advice.