BitForex founder faces $16.8M loss on BTC long position

Garrett Jin, founder of the fraudulent cryptocurrency exchange BitForex, is currently facing a $16.8 million loss on a 5x leveraged long position of 1,268 BTC, valued at $79.73 million, Onchain Lens reported. The position's average entry price is $76,117, with a liquidation price of $16,907. In contrast, Jin realized a $4.17 million profit from a previously held 2x leveraged long position in ZEC.