On the 26th (local time), TheBlock reported that a user had opened a short position in Solana-based meme coin JELLY on a decentralized exchange (DEX) that day, and that HyperLiquid
reported that it had been the victim of another large-scale whale manipulation incident in just two weeks.
According to on-chain data analysis company Lookonchain, the “0xde96” wallet account
After a user with the dress initiated a short position in JELLY, whales dumped the coin in large quantities on DEXes, causing the price to plummet.
The operation reportedly caused the community-run HLP vault to suffer initial unrealized losses of approximately $12 million.
As the controversy spread, Binance and OKX listed perpetual futures contracts for JELLY, but HyperLiquid immediately suspended trading of JELLY and froze the contracts.
"After detecting suspicious activity in the market, our validator set consulted and decided to delist JELLY perpetual futures," the team said in a statement.
HyperLiquid said: "All users will receive rewards through the HyperFoundation, except for flagged addresses.
"This will be handled automatically in the next few days based on on-chain data," he said. "Currently, HLP's 24-hour PnL is around 700,000 USDC.
"As a result of this incident, technical improvements will be made and the network will become even stronger," he added.
E temporarily fell by as much as 22%, but then recovered somewhat and was trading at $14.82 on the cryptocurrency marketplace CoinMarketCap as of 1:30 p.m. on the 27th, down 5.64% from the previous day.
It is being traded.
2025/03/27 15:36 KST
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