Source: ArkhamHyperliquid eventually closed the Jelly token market at a price of 0.0095, the same price as the trader’s short trade, which “zeroed out all floating PnL on the first two exploiter accounts.”In total, Arkham says the trader withdrew $6.26 million, but at least $1 million is still in the accounts.“Assuming he can withdraw this at some point in the future, his actions on Hyperliquid have cost him a total of $4,000.
The trader behind recent “suspicious market activity” on Hyperliquid that led to the freeze and delisting of the Jelly my Jelly (JELLY) memecoin is potentially down almost $1 million from their actions. Blockchain analytics firm Arkham Intelligence said in a March 26 post to X that the trader attempted to manipulate the system to profit from price movements, withdrawing collateral before Hyperliquid’s liquidation system could catch up.
Related: Bitget CEO slams Hyperliquid’s handling of “suspicious” incident involving JELLY tokenA whale trader intentionally liquidated a roughly $200 million Ether long position on March 12, causing HLP to lose $4 million while unwinding the trade. Traders have also begun hunting whales on the platform, targeting prominent leveraged positions in a “democratized” attempt to liquidate them.
or
Share This Story
Article Details
Author / Journalist: Cointelegraph by Stephen Katte
The story "Hyperliquid JELLY ‘exploiter’ could be down $1M, says Arkham" has 476 words across 17 sentences, which will take approximately 2 - 4 minutes for the average person to read.
Which news outlet covered this story?
The story "Hyperliquid JELLY ‘exploiter’ could be down $1M, says Arkham" was covered 3 days ago by Coin Telegraph, a news publisher based in United States.
How trustworthy is 'Coin Telegraph' news outlet?
Coin Telegraph is a fully independent (privately-owned) news outlet established in 2013 that covers mostly crypto news.
The outlet is headquartered in United States and publishes an average of 5 news stories per day.
It's most recent story was published 10 hours ago.
What do people currently think of this news story?
The sentiment for this story is currently Neutral, indicating that people are not responding positively or negatively to this news.
How do I report this news for inaccuracy?
You can report an inaccurate news publication to us via our contact page. Please also include the news #ID number and the URL to this story.
