Hyperliquid whale accused of insider trading up $21.48M on BTC short

A Hyperliquid whale, suspected of profiting from insider trading, is currently realizing a profit of $21.48 million on a Bitcoin short position. The allegations arose after the investor entered the position just before a record-breaking forced liquidation event on Oct. 11. Some speculate that the address belongs to Garrett Jin, the former CEO of the fraudulent exchange BitForex. The whale is currently holding a short position of approximately 4,400 BTC with 10x leverage. The average entry price for the position is $115,288, with a liquidation price of $124,260.