Hyperliquid has identified a former employee as the individual responsible for shorting the HYPE token. According to reports, the wallet in question, which was flagged by the Hyperliquid community for potential insider trading, belongs to an employee who was dismissed from the company in early 2024. The development addresses concerns raised within the community regarding suspicious trading activity involving the HYPE token.

Hyperliquid has identified a former employee as the individual responsible for shorting the HYPE token. According to reports, the wallet in question, which was flagged by the Hyperliquid community for potential insider trading, belongs to an employee who was dismissed from the company in early 2024. The development addresses concerns raised within the community regarding suspicious trading activity involving the HYPE token.