Whale Manipulation Causes $47M Loss on Hyperliquid, Sparking Calls for Regulation

A coordinated attack by large cryptocurrency whales has resulted in a staggering $47 million loss on the Hyperliquid platform. The manipulation involved strategically leveraged transactions on the XPL token market, causing severe losses for numerous traders while generating substantial profits for the attacking whales. This incident highlights vulnerabilities within DeFi markets and calls for stricter regulatory measures to curb such manipulations.