Bitcoin OG Garrett Jin suspected in $50M USDT swap error

The anonymous trader who mistakenly swapped 50 million USDT for just 325 AAVE ($36,000) on Cow Swap is believed to be Garrett Jin, the founder of BitForex and a Bitcoin OG, according to on-chain analytics firm Lookonchain. Lookonchain reported that its on-chain tracking identified 13 wallets connected to the incident. One of these wallets was found to be identical to a Binance deposit address belonging to Jin. The firm explained that the timing aligns with Jin's sale of 261,000 ETH ($543 million) and 11,318 BTC ($761 million) on Feb. 15 and 20, which coincided with when the associated wallets withdrew stablecoins from Binance.