Degen

🐳 Whale Manipulation Attempt on HyperLiquid

🐹 A major player tried to exploit HyperLiquid, a decentralized derivatives platform, by shorting 400M $JELLY tokens (40% of supply), withdrawing collateral, and then liquidating their own position to go long.

📉 This forced HyperLiquid to buy back at a higher price, causing a $10M floating loss. A pump attempt followed, aiming to liquidate HyperLiquid’s $200M short—but the price only peaked at $0.06 instead of the needed $0.17.

🔥 Binance & OKX announced (https://x.com/okx/status/1904915469838020943) JELLY futures listings, but HyperLiquid managed to close its short with a $700K profit and halted trading (https://x.com/HyperliquidX/status/1904923137684496784). The manipulation failed, but it was a bold move. The platform will compensate users, excluding suspicious addresses.

🚨 New Futures Alert 

$JELLYJELLY/USDT Perpetual Futures trading will go LIVE on #OKX at 3:30 PM on March 26th (UTC).

Learn more: https://t.co/FTOVTPR7hK https://t.co/icWnRvNZvN

After evidence of suspicious market activity, the validator set convened and voted to delist JELLY perps. 

All users apart from flagged addresses will be made whole from the Hyper Foundation. This will be done automatically in the coming days based on onchain data. There is no