A16z-associated entity allegedly transferred 118,000 HYPE, valued at approximately $10.7 million.

On October 31, according to on-chain analyst Ai Yi, an a16z-affiliated entity (0xb5E...F...) has transferred 118,000 HYPE in batches to Wintermute, Galaxy Digital, and Cumberland since yesterday, valued at approximately $10.7 million based on an average price of $90.72.

The transfers occurred following the disclosure of news regarding a hack at Binance, with the purpose of the funds remaining unclear. The entity's most recent transfer took place about 10 hours ago.