BitForex founder profits $16.48M from ZEC short amid bug-related crash

Amid a sharp decline in Zcash (ZEC) following the disclosure of an infinite minting bug in its Orchard protocol, a 3x short position held by Garrett Jin, founder of the fraudulent crypto exchange BitForex, is showing $16.48 million (25.4 billion won) in unrealized profit, according to on-chain analyst ai_9684xtpa. The position, held on Hyperliquid (HYPE), has a return of 137.8% with an average entry price of $626.47. The associated address has now become the top account on Hyperliquid for unrealized profits from ZEC positions.