Analysts: The whale that lost $50 million due to high slippage is suspected of being linked to Garrett Jin.

PANews reported on March 13th that on-chain analyst Lookonchain published an analysis suggesting that the mysterious trader who exchanged 50.43 million aEthUSDT for only 327 aEthAAVE (US$36,000) is likely Garrett Jin (the "1011 insider whale"). Clues include: on-chain tracking revealed 13 wallets potentially belonging to him. These wallets all received USDC or USDT from Binance on February 16th and 20th, and are active today, consolidating funds into two newly created wallets. One of these wallets shares the same Binance deposit address as Garrett Jin. Notably, Garrett Jin sold 261,000 ETH (US$543 million) and 11,300 BTC (US$761 million) on February 15th and 20th, respectively, a timing that closely matches the dates these wallets withdrew stablecoins from Binance.

Previously, it was reported that a whale lost nearly $50 million when exchanging USDT for AAVE because it ignored slippage warnings ; X user @kingfxyo revealed that he was the whale who lost $50 million due to high slippage, and called it his "second worst trade".