An unknown entity has shorted 1.6775 million HYPE tokens, valued at 51.65 million USD. This activity has raised concerns due to its potential market impact.
The actions of this entity were linked to a notable 9% flash crash observed on November 9th, highlighting the risks associated with high-leverage trading.
Further investigations revealed connections to wallets associated with Solana and Ethereum, indicating a broader influence on the crypto market.
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