POPCAT FLASH CRASH ON HYPERLIQUID SPARKS $4.9 MILLION MANIPULATION ALLEGATIONS
https://s.yimg.com/ny/api/res/1.2/G14rWs8Lzrl0rs5Z42CjRg--/YXBwaWQ9aGlnaGxhbmRlcjt3PTEyMDA7aD02NzU-/https://media.zenfs.com/en/beincrypto_us_662/5451008d8cbaf3c4436d8e8b93781a68
✍️ An anonymous trader manipulated the market on Hyperliquid, causing a $4.9 million loss for the platform's liquidity provider, by faking a $20 million buy wall on POPCAT and then liquidating their positions.
👉 The trader withdrew $3 million USDC from OKX and split it across 19 separate wallets 👉 The trader opened massive long positions on POPCAT, leveraging them approximately 5x 👉 The trader's positions were quickly liquidated, resulting in a loss of almost all collateral 👉 The incident has raised questions about the fragility of automated liquidity mechanisms in high-leverage meme markets
-- #VikasSingh #CZ(Binance'sformerCEO) #OKX #HyperliquidDEX #Arbitrumbridge #technology
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