Hyperliquid removes JELLY amid market manipulation accusations, promises refunds
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Hyperliquid, a cryptocurrency platform, has removed the JELLY token from its exchange after experiencing a significant market manipulation event. The incident resulted in an estimated $10.63 million loss due to a sudden 230% price surge. The exchange has committed to refunding affected users and addressing the market manipulation concerns.
March 26, 2025 | 5:30 pm
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NEGATIVE IMPACT
The delisting of JELLY and associated market manipulation could negatively affect investor confidence in Hyperliquid's platform and token management practices.
The market manipulation incident could erode trust in Hyperliquid's platform, potentially impacting the perceived value and stability of its token.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80