Former employees of Hyperliquid sold over $3.3 million in HYPE Spot this month, with monthly losses reaching $1.43 million.

BlockBeats news, on December 22, according to Coinbob's popular address monitoring, a related address of “former Hyperliquid employees” (0x7ae) has been continuously reducing its HYPE Spot holdings since this month, with the holdings scale dropping from 5.85 million dollars to 2.48 million dollars, cumulatively reducing over 70,000 pieces, with the current HYPE holdings at approximately 98,200 pieces. At the same time, affected by the decline in HYPE prices, this address has incurred monthly losses of 1.43 million dollars, with account funds around 4.2 million dollars. In addition, this address also holds a small amount of HYPE short order, with an average price of 24.17 dollars, unrealized losses of 43.5%, and a holdings scale of about 25,800 dollars. This address initially attracted attention due to shorting HYPE and being marked as related to the Hyperliquid team. According to a statement from the Hyperliquid team today, this address belongs to a former employee who was dismissed in the first quarter of 2024 and is now completely detached from Hyperliquid Labs. Their actions do not represent the standards or values of the team.