Analysts suggest that the founder of SpiderPool may be one of the agents of the "1011 insider whale," and that all 886,000 ETH associated with the whale have recently been unstaking.

PANews reported on January 6 that Eye, the on-chain analyst who previously uncovered the "1011 insider whale," posted on the X platform that Garrett Jin, the agent of the "1011 insider whale," participated in the creation of two staking pools, "Eth2Depositor (0x2F4)" and "EthBatchDepositor (0xE00)," through his company XHash. A total of 886,440 ETH were deposited in the past four months. These ETH came from Bitcoin swaps on the Hyperliquid/Hyperunit platform in August and September of last year, and all of the ETH has recently been unstaking.

Eye also stated that it has tracked down a Singapore-based company called "Hypercieve" on LinkedIn. Its co-founder is Jack Chen, who is also the founder of the Bitcoin mining company SpiderPool and was a colleague of Garrett Jin. The two have worked closely together for many years, and Jack Chen is likely one of the agents of the "1011 Insider Whale".