Scan to Download Gate App
qrCode
More Download Options
Don't remind me again today

A certain Address is suspected of "malicious manipulation" of the POPCAT price on Hyperliquid, resulting in a loss of 4.9 million USD in HLP.

robot
Abstract generation in progress

On November 13, according to MLM monitoring, someone withdrew 3 million USDC from CEX yesterday and dispersed it into 19 Wallets. Around 14:45 CET, he began to go long on POPCAT worth several million dollars, placing a buy order of about 20 million dollars at a price of $0.21. The total long positions of these 19 Wallets rose to about 30 million dollars. When he removed this 8-digit buy wall, within seconds, 20 million to 30 million dollars of POPCAT longs were liquidated, and HLP took over the positions. Subsequently, POPCAT further fell, resulting in a loss of 4.9 million dollars for HLP. Hyperliquid later manually closed this position. MLM analysis indicated, “This was clearly intentional, aimed at undermining HLP/Hyperliquid. No one would lose 3 million dollars in seconds just because of stupidity or carelessness. As a result, the Arbitrum bridge was temporarily suspended, but other deposits and withdrawals were unaffected. The issue should be resolved soon.”

POPCAT-19.61%
USDC0.01%
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
0/400
No comments
Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate App
Community
English
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)