Hyperliquid Denies Insider Trading Allegations as $1 Billion HYPE Burn Vote Approaches

Hyperliquid Labs has firmly denied insider trading allegations after on-chain activity sparked community concern over a wallet shorting the HYPE token. The clarification comes at a sensitive moment for the decentralized perpetuals exchange, just days before validators vote on a proposal that could permanently remove nearly $1 billion worth of HYPE from circulation. Hyperliquid Addresses Wallet Allegations Ahead of Landmark HYPE Burn Vote The controversy emerged after traders flagged a wallet believed to be linked to the Hyperliquid team that appeared to be shorting HYPE during recent unlock periods. According to Hyperliquid, the address in question, 0x7ae4c156e542ff63bcb5e34f7808ebc376c41028, does not belong to any current employee or contractor source: https://beincrypto.com/hyperliquid-hype-burn-vote-insider-trading/