Changpeng “CZ” Zhao has thrust a fast-escalating on-chain mystery into the center of Bitcoin’s news cycle, amplifying an investigation that alleges a single Hyperliquid trader—long rumored to control more than 100,000 Bitcoin—both catalyzed and profited from last Friday’s violent deleveraging. “Not sure of validity. Hope someone can cross check,” CZ wrote on X as he quote-posted a 12-part thread by pseudonymous researcher Eye that attempts to tie the “Hyperliquid/Hyperunit whale” to former BitForex chief executive Garrett Jin.

Not sure of validity. Hope someone can cross check. https://t.co/SPN26EXtaw

— CZ 🔶 BNB (@cz_binance) October 12, 2025

This Is The Infamous Bitcoin Whale

The timing and profitability are not in dispute. Multiple market dashboards indicate the whale’s short bet—

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