According to an on-chain investigation by Salus, MSX’s hot wallets and internal settlement system have conducted large-value transactions with a Hyperliquid whale account suspected of being controlled by its founder. The fund flows indicate that MSX user assets may have been transferred into this account and used for perpetual futures trading at approximately 11.2× leverage.
As of September 7, 2026, the account held roughly $89.31 million in notional positions, with approximately $7.97 million in equity and $3.046 million in unrealized losses.
The upstream funding of this Hyperliquid account can be traced to TRON address P. A deposit QR code shown in a public video further indicates that P is an address associated with Betronomy deposits.
The data also identifies direct, one-hop inflows to P from two Huione-linked wallets. Huione Group remains the subject of ongoing investigations and enforcement actions by U.S. law enforcement and regulatory authorities.
Taken together, the fund flows raise serious concerns that MSX user assets may have been diverted into high-leverage trading, while the upstream funding links to a suspected Ponzi-style scheme deposit address and Huione-associated payment channels.
These findings reflect risk indicators observed in publicly available on-chain evidence. Further investigation is warranted into the sources of funds, control relationships, and ultimate destinations of the assets.
@FBI@zachXBT