According to Odaily Planet Daily, based on analysis by on-chain analyst Ai Yi, the fund connections of 0x9ee...1daAb, the top holder of the Hyperliquid ASTER airdrop position, are summarized as follows:

Source of funds: The funds for this address over the past week were indeed marked as AstherusVault and Aster (Game), but when we tried to extract funds from one of the Valut addresses, we found that it was associated with funds from N addresses, with a large number of tokens going in and out every day. Directly defining it as "treasury behavior" seems inaccurate.

The initial funding source: The funds from the upstream address 0x04D...3eE2C were withdrawn from Binance three years ago;

No evidence of a connection could be found between the source of funds and the associated address of the high-frequency interaction address: 0xBAD...39eE6;

In addition, ASTER's treasury address is public and can be found on its Doc.