Analyst: Garrett Jin, the "1011 Insider Whale," may be manipulating Binance Life, which surged 20x in two months

Odaily Planet Daily News According to on-chain analyst Yu Jin, Binance Life, which has surged 20 times in the past two months, may be controlled by Garrett Jin. This entity is known for converting tens of thousands of BTC into over 900,000 ETH last year and suffering a $230 million loss from a long position liquidation on Hyperliquid this February.

1. From February to recent days, an address cluster accumulated 284 million Binance Life tokens ($237 million) through Binance withdrawals and on-chain purchases. This accounts for 28.4% of Binance Life's total supply.

Including holdings on centralized exchanges (CEX), they likely control a large proportion of Binance Life. The token has surged 20 times during these months ($0.04 → $0.85).

2. Intersection with the Garrett Jin whale entity: Shared deposit addresses.

I. Multiple addresses that withdrew large amounts of Binance Life from Binance shared a Binance deposit address with the Garrett Jin whale entity six months ago. Addresses that have been heavily buying Binance Life on-chain over the past five days shared a Bybit deposit address with the Garrett Jin whale entity within those five days.

Therefore, Binance Life is likely controlled by the Garrett Jin whale entity.

◎ The Garrett Jin whale entity is the well-known entity that held 100,000 BTC last year, managed by Garrett Jin.

◎ Last year, through Hyperliquid, they swapped tens of thousands of BTC for over 900,000 ETH at a price of $3,500+.

◎ This February, they opened a long position of over 200,000 ETH on Hyperliquid, which was eventually liquidated for a $230 million loss.

◎ In May, when ETH was priced around $2,350, they transferred 577,000 ETH ($1.351 billion) into Binance, after which ETH continued to decline.