Arthur Hayes Denies $2.09 Million HYPE Buyback: Who Is Telling the Truth?

According to Lookonchain, a wallet attributed to Arthur Hayes withdrew 33,978 Hyperliquid (HYPE) tokens worth approximately $2.09 million from Bybit on June 8. Hayes has since denied making any purchase. 

The reported transaction carries an implied entry price of approximately $ 61.50 per HYPE. That comes just four days after Hayes publicly stated he had exited his entire HYPE position at prices above $72.

HYPE Falls 23% After Hayes Exits, Then a Disputed Re-Entry

Hayes’ exit above $72 preceded a roughly 23% decline in HYPE, which slid below $56 in the days that followed. He attributed his HYPE and NEAR exit to macro hedging and a desire to wait for a better entry point.

Lookonchain identified a withdrawal of 33,978 HYPE from Bybit at an average price near $61.5, linking the address to Hayes through Arkham Intelligence labels.

If accurate, the sequence would describe a sell-high, buy-lower trade executed while Hayes publicly denied having repositioned.

The response left no ambiguity but offered no additional context or wallet information.

Can On-Chain Data Prove He Bought?

The credibility of the allegation depends entirely on whether the flagged address actually belongs to Hayes. Arkham uses a combination of on-chain data, exchange deposit records, and machine learning to assign wallet labels to known entities.

The platform targets an accuracy rate of 95% or higher for major figures, but that still leaves room for error.

A mislabeled wallet is a plausible outcome, and no direct confirmation has emerged linking the address to Hayes.

Arkham’s influencer wallet tracking has previously drawn scrutiny for attributions that required revision after the fact. Without a verified on-chain signature or corroborating exchange data, the claim remains unconfirmed.

HYPE was trading at $61.43 at the time of writing, up 4.58% over the past 24 hours, with a market cap near $13.65 billion and a rank of 10 by market cap.

Hayes has previously held a $150 HYPE price target for 2026. Whether he has re-entered that position remains, for now, an open question.

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