Hyperliquid has confirmed that a recent large shorting incident involving its native HYPE token was linked to a former employee who was dismissed in the first quarter of 2024 for insider trading.
In a statement issued this week, the decentralized perpetuals exchange said on-chain analysis had verified that the wallet behind the activity belonged to the ex-employee. Hyperliquid reiterated its zero-tolerance policy toward trading misconduct.
Behind the HYPE Dump
The disclosure comes amid increased community scrutiny after unusually large short positions emerged on the platform, which initially sparked speculation that major “whale” traders or internal actors were responsible. An on-chain sleuth said that wallets connected to the address 0x7Ae4, which it identified as belonging to a former employee, are still actively holding HYPE short positions directly on the protocol.
On-chain data also found that 0x7Ae4 was first funded on the Arbitrum network by wallet 0xA2c5, which later transf
We współpracy z: https://cryptopotato.com/hyperliquid-confirms-former-employee-behind-hype-shorting-activity/
