Hyperliquid implements security upgrades following JELLY liquidation incident
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Hyperliquid has introduced comprehensive security upgrades following a trading incident involving JELLY token that resulted in a $10.63 million loss. The platform is implementing stricter liquidator vault limits, reducing vault rebalancing frequency, modifying liquidation triggers, dynamically adjusting open interest caps, and establishing a validator voting system for asset delisting. Despite these measures, the platform has experienced significant outflows, with total value locked dropping from $540 million to $180 million.
March 28, 2025 | 8:30 am
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NEGATIVE IMPACT
HYPE token has dropped 3% in 24 hours, trading at $13.98, representing a 59.83% decline from its peak of $34.96. Trading volume has plummeted 79.8% to $94.3 million.
The security incident and subsequent platform challenges have negatively impacted investor confidence, leading to price decline and reduced trading activity.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100