Hyperliquid Says Ex-Employee Is Behind Massive HYPE Shorts - Unchained

UnchainedCrypto

2025-12-23 10:59:10

The Hyperliquid team claims that the wallet aggressively shorting and selling HYPE is controlled by a former employee who was fired in early 2024.

In a Discord post on Monday, pseudonymous co-founder Iliensinc noted that all Hyperliquid employees and contractors are banned from HYPE token derivatives trading and the team has a zero tolerance policy for insider trading.

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“To address recent community inquiries regarding the address 0x7ae4c15…1028: this address belongs to an ex-employee who was terminated in Q1 2024,” said Iliensinc.

“This individual is no longer associated with Hyperliquid Labs, and their actions do not reflect our team’s standards or values.”

The account in question has sold over 70,000 HYPE tokens and still holds roughly 98,200 HYPE, plus a small HYPE short that is currently deeply underwater.

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