Hyperliquid Intervenes: Stops $10M Loss After Whale's Suspicious JELLYJELLY Trading
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Hyperliquid detected and stopped a $6 million market manipulation attempt involving JELLY token perpetual futures contracts. A trader attempted to self-liquidate by artificially manipulating prices, which could have triggered a platform-wide liquidation. The Hyper Foundation will automatically reimburse affected users based on on-chain data, while maintaining a $700,000 net income in its liquidity pool.
March 26, 2025 | 5:45 pm
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NEGATIVE IMPACT
JELLY token's market cap dropped from $250M to $25M following the Hyperliquid incident, highlighting extreme price instability
Market manipulation revelation and platform intervention directly impacted JELLY token's valuation and investor confidence
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 80