Hut 8 suspected of selling Bitcoin and transferring 1589 BTC to the exchange

Jeff Yan, co-founder of Hyperliquid Labs, stated that Hyperliquid has not yet been opened to American customers and its goal is to become the underlying trading technology for traditional financial institutions, rather than replacing existing market participants. Jeff Yan believes that regulatory obligations should fall on financial institutions operating in the Hyperliquid blockchain market, rather than the blockchain network itself, and this arrangement can allow Hyperliquid to expand to Wall Street. (Source: Bloomberg)

In June of this year, OpenAI's internal research model GPT-5.6 Sol series was deploying the Sepolia contract on the Ethereum testnet. Due to a lack of gas fees, it scanned and used test coins from publicly available mnemonic addresses. OpenAI classified this behavior as unauthorized use of a funded test cryptocurrency wallet in its official Misalignment Reports on October 15, 2026.

Five wallets have established 50.17 million AGT multiple orders with 2x leverage on Aster DEX, valued at 1.7 million US dollars. Currently, there is a floating profit of 887000 US dollars, and AGT has risen by over 100% today.

Hut 8 has transferred 1783 BTC worth $146 million to another wallet in the past 24 hours. The wallet has transferred 1147.866 BTC worth $94.13 million to exchanges, over-the-counter counters, and other addresses in the past 24 hours, and has cumulatively transferred 1966.643 BTC worth $161 million in the past 7 days. The traceable position on Hut 8 chain is 4894 BTC, worth 403 million US dollars. The 10778 BTC data referenced by Lookonchain has not been updated by Hut 8 since November 2025 and is not its current verified holding data.

Sun Yuchen stated in an interview that the market severely underestimated the potential devastating impact of Q-Day on Bitcoin prices, and pointed out that it is extremely difficult for the Bitcoin network to reach consensus and upgrade. The wavefield is advancing the implementation of NIST's post quantum encryption standard, which has been tested online and is expected to land on the main network early next year. Sun Yuchen believes that even in the face of disaster, it is almost impossible for the entire Bitcoin network to complete the upgrade within two years, and institutions such as BlackRock have invested more than $1 million in funding but have not participated in the development of Bitcoin's underlying technology.