「Former Hyperliquid Employee」 Sells Over $3.3M Worth of HYPE This Month, Faces $1.43M in Monthly Losses

BlockBeats News, December 22nd, according to Coinbob Popular Address Monitoring, the "Hyperliquid Former Employee" related address (0x7ae) has been continuously selling off HYPE spot since this month. The holdings have decreased from $5.85 million to $2.48 million, with a total reduction of over 70,000 tokens. The current HYPE holding is approximately 98,200 tokens. Furthermore, affected by the decline in HYPE's price, this address has incurred a monthly loss of $1.43 million, with an account balance of around $4.2 million. In addition, the address also holds a small HYPE short position with an average price of $24.17, facing an unrealized loss of 43.5%, with a position size of around $25,800.

This address initially drew attention for shorting HYPE and being associated with the Hyperliquid team. According to a recent post by the Hyperliquid team, the address belongs to a former employee who was fired in the first quarter of 2024 and has now completely disassociated from Hyperliquid Labs. The team clarified that the individual's actions do not represent the team's standards or values.