Web3 security company Salus: Chinese law enforcement agencies have cracked 3 cases of money laundering using HyperLiquid, and the strategy structure is highly similar to James Wynn's operation path
On June 6, Mirror Tang (@mirrorzk), founder of Web3 security company Salus, posted on social media that since March this year, Chinese law enforcement agencies have cracked 3 cases of cryptocurrency money laundering using HyperLiquid. The operation method is to use Hyperliquid's high-leverage liquidation mechanism to flush out illegal gains, create liquidation losses on HyperLiquid, and reversely build positions on centralized trading platforms to make profits and complete fund laundering. Salus will publish a research article in cooperation with law enforcement agencies in the future to officially disclose this information.
Mirror Tang also pointed out that the strategy structure is highly similar to the operation path of the whale James Wynn, who recently opened a high-multiple contract and eventually withdrew $100 million in profits.
Mirror Tang called on Hyperliquid co-founder Jeff to pay attention to the issue, saying that if the lack of current risk control measures is not resolved, there will be a high risk of regulatory intervention.