Former Hyperliquid employees' Address significantly reduced their holdings of HYPE this month, with unrealized losses of 1.43 million USD.

[Block Rhythm] According to on-chain data tracking, an address related to the Hyperliquid project has recently drawn market attention. This address (0x7ae) has been continuously selling HYPE tokens since December, with its holdings shrinking significantly from $5.85 million to $2.48 million, and a total reduction of over 70,000 tokens in a single month. As of now, this address still holds about 98,200 HYPE.

It is worth noting that the decline in HYPE prices has caused this address to suffer significant losses—monthly account losses have reached 1.43 million USD. In addition, this address is also shorting HYPE, with an average short position of 24.17 USD now showing a floating loss of 43.5%, and the holdings size is about 25,800 USD. The current total funds in the account are approximately 4.2 million USD.

Hyperliquid's official statement subsequently responded to this situation. The project team confirmed that the address belongs to a former employee who left the company in Q1 2024 and is now completely disconnected from Hyperliquid Labs. The team emphasized that the trading behavior and holdings associated with this address do not represent the standards or values of the project team, clarifying misunderstandings from the outside.