MLM: Uncovered a suspicious address cluster holding over 4.36 million HYPE, funds originating from TornadoCash

BlockBeats News, October 19th. According to MLM, an unusually active Hyperliquid address cluster was discovered, holding a total of 4,363,073 HYPE worth $158.2 million, placing the cluster among the top ten holders. The cluster utilized 47 newly created wallets, with 16 wallets currently holding all 4.36 million HYPE.

The peculiar aspect is that all wallet addresses received funds directly from TornadoCash, totaling 102,000 ETH. These ETH were sold for $37.56 million and used to buy HYPE at an average price of $8.8. The funds were withdrawn from TornadoCash between October 19, 2020, and August 27, 2021. After more than three years of dormancy, the cluster became active on the first day of the HYPE token generation event (November 30, 2024) and bought all held HYPE in the next 48 hours, profiting over $120 million in this round of operations.