BitForex founder loses over $200M on ETH long

An address suspected to belong to Garrett Jin, founder of the fraudulent crypto exchange BitForex, lost over $200 million on an ETH long position, according to Wu Blockchain. While the address profited around $100 million from a BTC short position, the ETH losses led to a net loss of $128 million. Wu Blockchain noted that Jin could have realized a profit of over $70 million had he not traded ETH. Additionally, another associated address has reportedly purchased $10 million worth of HYPE and opened a $38 million short position on ZEC.