A rumor of a roughly $260 million liquidation spread through Ethereum trader circles on Feb 13, 2026, after users in r/ethtrader’s Daily General Discussion thread referenced a large wipeout and shared an on-chain style link for others to inspect.
The claim gained extra traction because a separate r/ethtrader post explicitly framed the event as “Garett Jin just got liquidated 260 Million,” and pointed readers to a wallet dashboard for the address it associates with the move. In other words, this is not a platform statement. It is a community narrative built around a publicly viewable address and a dashboard snapshot.
What the Linked Wallet Dashboard Actually Shows
The most-circulated link routes to a Hyperliquid-focused wallet page on Wangr, where the address is labeled “Shifu Garrett Jin” and appears to have no open positions at the time of viewing. That label is not, by itself, proof of identity. It is a tag within a third-party dashboard.
To validate whether a liquidation event really occurred, traders generally look for three things:
First, liquidation markers and timestamps in a venue-specific explorer, then a matching position unwind in the wallet’s trade history, and finally, a plausible path for where any collateral or proceeds moved next. A Hyperliquid explorer-style view for the same address is available via HypurrScan, which is the kind of page investigators use to confirm whether “liquidated” is a real on-venue event versus a misread dashboard state.
Why the “$260M” Figure Is Hard to Pin Down
Even when the address is correct, “$260 million” can refer to multiple different numbers.
Some posts describe total position notional. Others describe realized loss, equity wiped, or the difference between peak unrealized profit and final account equity. The r/ethtrader post itself hints at this ambiguity by referencing “260 million gone” and also mentioning higher figures when including prior positive PnL.
This is why independent trackers matter. A tracker page for the same address on CoinGlass’s Hyperliquid whale section can help cross-check whether the account currently shows open positions or recorded performance, even if it does not always expose a clean, single “loss number” summary.
What’s Known About the Wallet Attribution
The name attached to the address is also part of the story’s uncertainty.
In past coverage, a wallet associated with large Hyperliquid positions has been linked in reporting to former BitForex CEO Garrett Jin, including a Decrypt write-up that frames a “Garrett Jin” wallet as a notable on-chain actor. That kind of context explains why a trader nickname can spread quickly, but it still does not replace an official confirmation from the individual, the venue, or a signed proof.
Why This Matters Even If It’s “Just a Rumor”
Large liquidations matter because they change intraday liquidity, not because the internet is fascinated by big numbers.
When a concentrated leveraged position is forced out, the unwind can hit thin order books, trigger cascading liquidations, and widen basis between venues. If the event is tied to a perp venue, it can also distort mark and index dynamics during fast moves, especially when market makers pull quotes and funding flips rapidly.
This is also why a rumor like this can become a story before it is fully proven. Traders react to the possibility of forced flows. That reaction itself can amplify volatility, even if later analysis shows the number was overstated.
How the Claim Can Be Confirmed Without Guesswork
The cleanest confirmation path is mechanical.
A verified liquidation event should show up in an explorer-style log for the venue tied to the address, with a time window that matches the market move traders were watching. The same window should show clear position changes, then an obvious end state such as no open positions. If the rumor names a person, credible corroboration usually requires either a platform statement, a direct admission, or a strong chain of attribution from multiple independent analysts.
Until those pieces line up, the safest framing is that an ETH trader community circulated a specific address and dashboard link, and alleged a nine-figure liquidation, while the exact loss figure and identity attribution remain unverified.
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