Arthur Hayes is pushing back against fresh on-chain chatter linking him to new HYPE buys on Bybit. Analysts at Lookonchain flagged a wallet they associate with the BitMEX co-founder pulling tens of thousands of HYPE off the exchange, but Hayes says the buying was not his.
Onchain Lens Flags HYPE Withdrawals
Over the weekend, on-chain sleuths reported that an “Arthur Hayes-associated” wallet withdrew large batches of Hyperliquid’s HYPE from Bybit. One update said the wallet pulled 85,714 HYPE, worth about $ 5.37 million, following similar previous moves.
These reports relied on tracking by Lookonchain, which monitors whale addresses and links them to public identities when possible. In past posts, the tracker tied the address to Hayes’ known activity and highlighted a pattern of HYPE accumulation and exchange withdrawals.
Because exchange withdrawals sometimes signal long-term conviction rather than short-term trading, on-chain watchers quickly framed the latest move as another bullish bet on Hyperliquid’s token by Hayes or his fund, Maelstrom.
Hayes Denies Buying HYPE
Hayes has now stepped in to challenge that reading. In response to social posts about an Arthur Hayes-linked wallet withdrawing around 34,000 HYPE from Bybit, he replied, “I didn’t buy shit.” That short statement directly denies that he executed the specific purchases people were pointing to.
The comment matters because just last week, Hayes told his followers that he just dumped his entire Hyperliquid token stack, including NEAR Protocol tokens, after warning that the market peak could arrive sometime between now and September. He has also previously been very open about his HYPE trades. In April, he told followers, “The only thing we’re buying right now is HYPE,” and he publicly floated a 150 dollar price target for the token.
Hayes’ denial highlights a long-running problem with on-chain “doxxing.” While tools like Onchain Lens and Lookonchain often correctly tag wallets, they also admit those links are not 100 percent certain. A labeled wallet might belong to a fund, a counterparty or a structure where a public figure is not pressing every button themselves.
In this case, the chain still shows that a wallet long associated with Hayes moved a meaningful stack of HYPE off Bybit.
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