HyperLiquid's $240M Collapse: Decentralization Exposed as a $10M Lie!
So, for those who don’t understand whats going on with Hype, let me repeat: decentralization is a utopia, and today, HyperLiquid proved it! Decentralization ends where easy money and exchange fees stop flowing. In other words, the casino shuts down when players start winning more than the casino earns! The casino doors can always be closed, the lights turned off, the chips removed from the table, and tomorrow, new players will be invited in.
A crypto whale, "0x20e8," pulled off a massive short on 400 million JELLYJELLY (40% of the total supply) on HyperLiquid—but here’s where things get wild. They deliberately liquidated their own position by opening a massive long, artificially pumping the token’s price!
💥 What happened next?
HyperLiquid was forced to close the short, repurchasing a massive amount of JELLY at a much higher price, leaving the exchange $10-12M in the red.
🔥 But the story doesn’t end there!
After this move, the community started aggressively pumping JELLY, and Binance and OKX listed it on perpetual futures, aiming to liquidate HyperLiquid’s position and drain funds from the protocol. If JELLY hits $0.17 (currently $0.037), HyperLiquid’s vault will be wiped out for $240M.
So, HyperLiquid simply delisted JELLY. 😆
Hyper Foundation has officially announced compensation for affected users. 💰
Who gets reimbursed? Everyone except addresses flagged as suspicious.
So, there are different ways to play this game! But remember: the casino never loses. 🎰
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