An unidentified entity has reportedly shorted 1.6775 million HYPE tokens, valued at $51.65 million, through 54 wallets, according to analyst MLM. The average shorting price was $34.2087, while the token's closing price was $34.6703, marking a 12% increase from the current price. This entity's actions contributed to a 9% flash crash on November 9th. Utilizing high leverage, the entity held a total margin of $9 million, resulting in unrealized profits of $5.34 million. The entity is linked to two wallets on Solana and Ethereum named 'okwan' and is suspected of being involved with a token called WOULD, which had a market cap of $700 million on Solana earlier this year. Additionally, approximately $8,000 in Arbitrum USDC was transferred to Twitter user @rektober about a month ago, suggesting further connections.