Hyperliquid Clarifies Controversy Surrounding Alleged Insider Trading English Translation: Hyperliquid Clarifies Controversy Surrounding Alleged Insider Trading

The co-founder of the decentralized exchange Hyperliquid, known as Iliensinc, has clarified that the activity of a suspicious wallet is linked to a former employee. Previously, the community accused the team of covertly selling native HYPE tokens.

According to Iliensinc, the address 0x7ae4…1028 belongs to a person who was terminated in the first quarter of 2024. This individual is no longer affiliated with Hyperliquid Labs.

This clarification came in response to allegations from a community member using the alias cobe.hype. In November, he noted that approximately 4,000 HYPE, valued at $134,000, were sold from the specified wallet within a single day.

The co-founder emphasized the company’s strict ethical standards. Active employees and contractors are prohibited from:

Hyperliquid maintains its leadership in the perpetual contract segment. In the second quarter of 2025, the trading volume on the platform surpassed $653 billion, capturing a 73% market share.

It is worth mentioning that in November, Hyperliquid suspended deposits and withdrawals due to suspicions of price manipulation involving the meme coin POPCAT.