Hyperliquid has been attacked again, and the methods used by the attackers are similar to last time.
1) A large trader opened a high leverage short position on $JELLY.
2) Profit was withdrawn while simultaneously using spot trading to pump the price, leading to self-liquidation.
3) Positions on Hyperliquid were liquidated, and $HLP absorbed a large number of positions.
4) The large trader continued to pump the price with spot trading, resulting in significant losses for $HLP.
5) $HLP panic withdrew from the pool, causing the liquidation price to drop further.
6) As long as the market cap of $JELLY reaches 180M, the entire $HLP will be liquidated.