Hyperliquid JELLY Manipulation Breakdown: How a 500% Pump Nearly Cost $12M
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Hyperliquid, a decentralized exchange, successfully prevented a sophisticated market manipulation scheme involving the meme coin JELLYJELLY. A trader attempted to exploit the platform's leverage system by creating massive price volatility, risking a $12 million loss. The exchange intervened by resetting the token's price, liquidating tokens, and ultimately turning a potential disaster into a $703K profit.
March 27, 2025 | 5:30 am
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NEGATIVE IMPACT
HYPE token experienced significant price decline following the JELLYJELLY trading manipulation event, dropping over 12% in a day and 30% for the month due to reduced investor confidence.
The repeated liquidity issues and market manipulation attempts have negatively impacted investor perception of Hyperliquid, leading to a sharp decline in its native token's value.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100