Huma Finance co-founder Richard Liu said a hacked wallet belonging to an early liquidity provider led to the sale of about 12 million airdropped HUMA tokens on October 22. Responding to recent price volatility, he said the team had expected fluctuations ahead of a November token unlock, but not on the scale observed.
Liu said the project had questioned its contracted market makers and had no reason to believe malicious manipulation was involved. He also pointed to activity in derivatives markets: from November 2 to 7, open interest across platforms rose from about 620 million to 1.1 billion HUMA. Funding rates had been negative since November 4, while perpetual-futures volume was seven to ten times spot volume. In Liu’s assessment, market activity appeared concentrated in futures contracts.
PANews reported the response on November 12, 2026, at 14:56 UTC+8. Its headline also stated that the Huma Foundation did not participate in selling, though the report did not provide further detail on that point.