Garrett Jin Linked to Suspected Strategic Liquidation on Binance

A recent blockchain analysis has uncovered a significant transfer of $50.43M in $aEthUSDT on Binance, which appears to be linked to Hong Kong-based crypto veteran Garrett Jin.

The transaction in question involved 327 $aEthAAVE ($36k), with one wallet swapping the entire amount for the AAVE derivative. This unusual exchange has raised suspicions of strategic liquidation or an attempt to obfuscate the origin and destination of the funds.

Further investigation revealed that multiple wallets received large deposits from Binance, including $166.63M in $USDT on February 20th. These wallets then resumed activity, with some transfers mirroring each other's patterns. The coordinated timing of these transactions has sparked concerns about a larger scheme.