According to Lookonchain, a wallet named Arthur Hayes removed 33,978 Hyperliquid (HYPE) tokens worth about $2.09 million from Bybit on June 8. Hayes has denied any purchase.
The said content has an entry fee of approximately $61.50 per HYPE. This comes just four days after Hayes publicly announced that he was abandoning his entire HYPE position on prices above $72.
HYPE Falls 23% After Hayes Exits, Then Controversy Re-enters
Hayes’ breakout above $72 preceded a 23% drop in HYPE, which dropped below $56 in the following days. He said his own HYPE and exit NEAR to macro hedging and wanting to wait for a good entry point.
Lookonchain images identified the removal of 33,978 HYPE from Bybit at an average price of around $61.5, linking the address to Hayes through the letters of Arkham Intelligence.
If correct, this listing could mean higher sales, lower prices sales was killed when Hayes publicly denied that he had changed.
His response was vague but did not provide any additional information or wallet information.
Can On-Chain Information Prove Purchases?
The reliability of the information depends on whether the address identified belongs to Hayes. Arkham uses a combination of on-chain data, investment records, and machine learning to assign wallet labels to known entities.
The platform aims for an accuracy of 95% or better for large numbers, but this still leaves room for error.
The mislabeled wallet is a logical result, and no direct confirmation has been found linking the address to Hayes.
The tracking of Arkham’s influencer wallet started to review the content that needed to be updated later. Without a valid signature on the chain or exchange communication data, the claims remain uncertain.
HYPE was closed at 61.43 US Dollars at the time of writing, an increase of 4.58% in the last 24 hours, with a market value close to $ 13.65 billion and the 10th position with the market cap.
Hayes has already done a $150 worth of HYPE for 2026. Whether he re-entered this position is, for now, an open question.
A note Arthur Hayes Denies $2.09 Million HYPE Buyback: Who’s Telling the Truth? appeared for the first time BeInCrypto.
