‍Hyperliquid Addresses HYPE Token Shorting by Former Employee Hyperliquid has clarified community concerns regarding suspicious HYPE token trading activity. The co-founder, Iliensinc, confirmed that a wallet responsible for shorting the asset belonged to a former employee terminated in Q1 2024. The team has distanced itself from these actions and implemented strict internal trading policies to prevent conflicts of interest and trading on material non-public information. Despite the controversy, Hyperliquid maintains dominance in the perpetual DEX market, processing over $653 billion in Q2 2025 and capturing 73% market share. The HYPE token has shown significant volatility, trading around $25.40 as of December 22, 2024, but remains up significantly since its debut.

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Hyperliquid Clarifies HYPE Shorting Linked to Former Employee

Hyperliquid, a leading decentralized perpetual exchange (DEX), has addressed community concerns regarding suspicious trading activity involving its...