Arthur Hayes Denies Buying HYPE After Wallet Linked to Him Withdraws $2.09 Million in Tokens

Arthur Hayes has denied purchasing Hyperliquid (HYPE) tokens after blockchain analytics platform Lookonchain reported that a wallet allegedly connected to the BitMEX co-founder withdrew 33,978 HYPE, worth approximately $2.09 million, from crypto exchange Bybit on June 8.

According to Lookonchain, the transaction suggests an average acquisition price of around $61.50 per HYPE token. The reported withdrawal came only days after Hayes publicly stated that he had sold his entire HYPE position at prices above $72.

Hayes’ earlier exit coincided with a significant decline in the HYPE price. Following his sale, the token dropped roughly 23%, falling below $56 before recovering. At the time, Hayes explained that he had exited both HYPE and NEAR positions as part of a broader macroeconomic hedging strategy and intended to wait for a more attractive re-entry point.

The latest controversy emerged when Lookonchain linked the wallet to Hayes using data from Arkham Intelligence. If the attribution is correct, the transaction would indicate that Hayes successfully sold near local highs and repurchased HYPE at a lower price while publicly denying any new position.

However, Hayes quickly rejected the claim, responding on social media with a direct statement: “I did not buy $HYPE.”

The key issue remains whether the wallet identified by Lookonchain genuinely belongs to Hayes. Arkham Intelligence relies on blockchain analysis, exchange deposit data, and machine-learning models to label wallets associated with public figures and institutions. While the platform aims for high accuracy, misidentifications can still occur.

Without a verified on-chain signature, official exchange confirmation, or additional evidence connecting the wallet to Hayes, the reported purchase remains unconfirmed.

Meanwhile, HYPE continued to show strength in the market. The token traded at approximately $61.43, gaining 4.58% over the previous 24 hours. Hyperliquid’s market capitalization stood near $13.65 billion, making it the tenth-largest cryptocurrency by market value.

Hayes has previously projected that HYPE could reach $150 by 2026. Whether he has quietly rebuilt his position remains an open question as investors await further clarification.