A wallet tied to HyperLabs, the development team behind decentralized perpetuals exchange Hyperliquid, has completed the redemption of 3.75 million HYPE, according to monitoring cited by ChainCatcher. The tokens had been queued for unstaking seven days earlier. Based on the figures in the report, the redeemed HYPE was worth about $332 million at the time of the update. The move was flagged by on-chain watcher Ember, and the redemption was reported as having been completed two minutes before the alert was published. No additional details on the destination or intended use of the tokens were disclosed in the source item.
A wallet associated with HyperLabs, the development team of decentralized perpetuals exchange Hyperliquid, has redeemed 3.75 million HYPE, according to ChainCatcher, citing monitoring by Ember.
The wallet had submitted the unstaking request seven days earlier. The redemption was completed two minutes before the update. Based on the figures provided in the source, the tokens were worth about $332 million.
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