# Ex-employee Related Articles

Hyperliquid says ex-employee responsible for HYPE token shorting

Hyperliquid co-founder Iliensinc clarified on Discord that a wallet accused of shorting the HYPE token belonged to a former employee terminated in Q1 2024, not a current team member. The address sold around 4,000 HYPE tokens ($134,000) in a single day. Iliensinc emphasized that all employees and contractors are prohibited from derivatives trading involving HYPE or using material non-public information. Despite a 24% price drop this year, HYPE has risen 290% since its November 2024 launch. Arthur Hayes recently praised Hyperliquid as this cycle’s “best story,” noting its growth from $2–3 to over $60 at its peak. The platform dominated the perp DEX market with $653 billion volume in Q2 2025.

cointelegraph12/22 09:14