Hyperliquid Intervenes: Stops $10M Loss After Whale’s Suspicious JELLYJELLY Trading

TL;DR Hyperliquid removed the perpetual futures contracts linked to the JELLY token after detecting price manipulation by a trader to self-liquidate. The Hyper Foundation has committed to automatically reimbursing the users affected by the losses, based on on-chain data, except for flagged addresses. Despite this incident, Hyperliquid reported a net income of $700,000 in its. . . source: https://crypto-economy.com/hyperliquid-intervenes-stops-10m-loss-after-whales-suspicious-jellyjelly-trading/