HyperLiquid Market Manipulation: Latest Incident Raises Security Concerns

A recent market manipulation incident on HyperLiquid, a decentralized trading platform, has sparked renewed scrutiny of its security protocols and risk management practices. This follows a similar event in which a massive liquidation occurred a few weeks ago, raising concerns about the platform’s ability to handle volatility effectively. Blockchain analytics firm Arkham Intelligence has revealed that a sudden surge in the price of $JELLY, a token on the platform, led to significant losses for HyperLiquid and exposed vulnerabilities within its system.