TechFlow News, November 12: Huma co-founder Richard Liu responded to recent HUMA price fluctuations in a post on X, saying the team was surprised that the decline was greater than expected and had launched an investigation.

The investigation found that on October 22, a wallet belonging to an early liquidity provider (LP) was hacked, and approximately 12 million HUMA tokens received through an airdrop were subsequently sold. Meanwhile, from November 2 to 7, total open interest in HUMA contracts across the market rose from approximately 620 million to 1.1 billion tokens. Perpetual contract trading volume reached 7 to 10 times spot volume, and funding rates remained negative from November 4 onward.

Richard Liu emphasized that the Huma Foundation and its affiliated entities have not participated in any HUMA transactions over the past three months and have no plans to sell tokens during the upcoming token unlock. There is currently no evidence of misconduct by the partner market maker, and the team plans to hold an AMA around November 19–20 to address community questions.