HyperLiquid Faces Market Manipulation Crisis: Token Price Surge Sparks Security Concerns

HyperLiquid, a decentralized trading platform, has again been embroiled in a market manipulation incident that highlights concerns regarding the platform’s security and risk management. This follows a similar event involving a substantial liquidation earlier this month. Analysis by blockchain analytics firm Arkham Intelligence reveals a sudden price surge of $JELLY tokens on HyperLiquid, causing significant losses for users and exposing vulnerabilities within the platform’s system.