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「Former Hyperliquid Employee」 Sells Over 3.3 Million USD Worth of HYPE Spot This Month, Resulting in a Monthly Loss of 1.43 Million USD
BlockBeats News, December 22, according to Coinbob Popular Address Monitor data, the address associated with a "Hyperliquid Former Employee" (0x7ae) has been continuously selling off HYPE spot since this month. The holding size has decreased from $5.85 million to $2.48 million, with a total reduction of over 70,000 tokens, and the current HYPE holding is approximately 98,200 tokens. Additionally, due to the price decline of HYPE, this address has incurred a monthly loss of $1.43 million, with an account balance of around $4.2 million. Furthermore, the address also holds a small HYPE short position, with an average price of $24.17, unrealized loss of 43.5%, and a position size of about $25,800.
This address initially gained attention for shorting HYPE and being associated with the Hyperliquid team. According to a post today by the Hyperliquid team, this address belongs to a former employee who was terminated in the first quarter of 2024, and is now completely separated from Hyperliquid Labs, stating that their actions do not represent the team's standards or values.
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