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BitForex Founder Jin Pulls $150M from Hyperliquid Amid Insider Trading Allegations

Guavy AI Editorial Team
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HYPE BNB USDC
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BitForex founder Garrett Jin has withdrawn $150 million in USDC from global decentralized exchange Hyperliquid (HYPE). The funds were transferred to Binance, a major cryptocurrency exchange. This move comes as Jin faces allegations of insider trading during the crypto liquidation event last October.

The address linked to Jin withdrew its entire balance of $147 million USDC from Hyperliquid on September 24. The withdrawn funds were deposited directly into Binance. The Hyperliquid address now has a zero balance, indicating that all funds have been drained.

Jin's alleged insider trading during the crypto liquidation event has raised concerns among investors. The incident is considered one of the largest such incidents in the history of cryptocurrency markets.

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