XPL token price experienced a dramatic surge of 200%, skyrocketing by over 15% within minutes, leading to massive profits for some large wallet holders but substantial losses for others. This rapid rise has sparked allegations of manipulation on Hyperliquid’s decentralized exchange platform. The event has been attributed to a significant wallet holding known as ‘0xb9c’, estimated to have profited $15 million. 🕵️♂️ 📈. Hyperliquid is now facing scrutiny for its handling of the situation and potential role in allowing such manipulative activities. In response, Hyperliquid is actively working on upgrades to enhance security practices on its platform, including price caps and the integration of external oracle systems. This move aims to address vulnerabilities highlighted by this incident. 🛡️ The exchange’s transparency has come under greater scrutiny with reports of significant losses for traders who experienced sudden liquidity issues. While Hyperliquid remains committed to addressing these concerns, market demands are now rising for stronger regulations and technological safeguards against manipulation. 🤝 📈