Following a market manipulation incident involving its liquidity provider pool on July 3, 2023, Hyperliquid, a decentralized exchange, has strengthened its risk management protocols to prevent future incidents. The exchange acknowledged that structural vulnerabilities were exposed during this event and implemented new collateral limits as part of these efforts. These changes aim to mitigate exposure and enhance the platform’s resilience to market manipulations. Hyperliquid remains committed to its original operation methods despite these refinements. 2023 has seen several instances of market manipulation in decentralized finance (DeFi), prompting concerns about centralization and decentralization.