●Wallet holding $12.4M in HYPE accidentally sold $2.05M at 30.1 instead of 31
●The operational error caused an immediate 2.6% flash crash in the spot price
●Entity had previously sold $3M via limit orders before the mistake occurred
A wallet holding 400,000 HYPE (approximately $12.4 million) accidentally executed a sell order for 67,000 HYPE tokens valued at $2.05 million. The order was reportedly placed at a price of 30.1 instead of the intended 31, causing an immediate 2.6% wick down in the spot price.
Prior to the error, the same wallet had been selling approximately $3 million worth of HYPE using standard limit orders. The sharp price movement was attributed directly to this input error rather than a shift in broader market dynamics.