HyperLiquid Refunds JELLY Traders Amidst Security Enhancements After $230M Squeeze

Following a near $230 million loss due to a short squeeze on the JELLY token, HyperLiquid has taken significant steps to address user concerns and restore trust. The decentralized exchange (DEX) is now refunding users who held long positions in JELLY at the time of the incident, with exceptions for flagged addresses. This move aims to rebuild confidence following the recent turbulence, while the HYPE token, which suffered a sharp drop initially, has begun to stabilize.