BitForex founder holds $15M ZEC short position

Garrett Jin, founder of the fraudulent crypto exchange BitForex, is holding a $15.08 million short position in Zcash (ZEC) on Hyperliquid (HYPE) and is currently facing a loss of $530,000, EmberCN reported. An address presumed to belong to Jin, starting with 0x92ea, opened its first position nine days ago at an average price of $444. EmberCN added that the address has a strong track record in ZEC trading. Meanwhile, the loss on Jin's BTC long position has narrowed from $23 million to $16 million amid the recent market rebound. According to CoinMarketCap, ZEC is trading at $461.41, up 24.23% over the past seven days.