(ME INCLUDED šŸ˜•) Justin Sun, son of a ... rugged thousands of traders
$16M+ profit for him, $18M+ in losses in a minute
Hereā€™s the full breakdown of how it happened

ā˜ž 2 Plasma manipulation
š“¼ One of the most notable manipulations on Hyperliquid recently happened with the $XPL token
š“¼ It is widely presumed that Justin Sun, founder of TRON and a well-known market whale, longed around $16M
š“¼ His order cleared the entire order book, spiking the price above $2, and he pocketed roughly $16M in profit within minutes
š“¼ Over 85% of all longs were liquidated, totaling more than $18M in trader losses

Image

ā˜ž 3 Price disbalance
š“¼ On centralized exchanges, the $XPL price barely moved during the same period
š“¼ This highlights that the move was purely artificial and isolated inside Hyperliquid
š“¼ Traders were trapped due to the lack of cross-market synchronization
š“¼ Such a gap between platforms raises serious trust issues for the DEX

ā˜ž 4 Hyperliquidā€™s response

š“¼ The exchange officially stated it would not compensate traders despite the abnormal event
š“¼ Earlier, Hyperliquid had reversed trades when the same issue happened with the meme token JelyJely
š“¼ This inconsistency suggests selective treatment of incidents
š“¼ Many see it as deliberate protection of large players at the expense of retail

Image

ā˜ž 5 The $WLFI attempt
š“¼ After the $XPL success, a similar move was attempted on $WLFI
š“¼ But due to lower liquidity, the results were weaker and less dramatic
š“¼ The repeated attempt proves the manipulation was systematic and intentional
š“¼ Given Justin Sunā€™s history, suspicion about his direct involvement only grows stronger

ā˜ž 6 Damage to traders
š“¼ More than $18M in liquidations mostly hit retail traders, wiping out accounts overnight
š“¼ Many had hedged their positions properly but were still destroyed by the artificial move
š“¼ Personally, I lost $185,000 during this manipulation, despite trying to manage risk
š“¼ This shows that even careful strategy cannot protect against market abuse on that scale

ā˜ž 7 Justin Sunā€™s role
š“¼ Evidence points strongly to Justin Sun being behind the attack, as the wallet is linked to his assets
š“¼ Sun is infamous for manipulating markets in the past for his own benefit
š“¼ With billions in resources and access to liquidity, he can bend the rules almost unchecked
š“¼ His behavior proves that DeFi is just as exposed to billionaire influence as CeFi

ā˜ž 8 Manipulation strategy
š“¼ The strategy was simple but devastating: a massive long, clearing the book, then cashing out on the pump
š“¼ By exploiting shallow liquidity, he triggered mass liquidations and drained liquidity to his side
š“¼ For Hyperliquid, this was a real stress test and the exchange failed it completely
š“¼ The $XPL event should be seen as a display of raw financial power rather than fair trading

ā˜ž 9 Repeat pumps

š“¼ The same wallet continues to aggressively long $XPL with new positions
š“¼ At one point, an open position of over $10M was tracked live on-chain
š“¼ These repeated actions prove the move was not random but calculated
š“¼ The wallet can still be monitored here: 0xb9c0283968......

Image

ā˜ž 10 Final takeaway
š“¼ The $XPL story exposed how vulnerable Hyperliquid is to manipulation from whales and insiders
š“¼ Refusing compensation and hiding behind ā€œmarket rulesā€ has damaged trust in the platform
š“¼ The probability of Justin Sunā€™s involvement is extremely high given the scale and wallet connections
š“¼ Lesson is clear: in crypto, traders face not only market risk but also the danger of billionaire-backed manipulation

šŸ“Œ Follow @Bluechip for unfiltered crypto intelligence, feel free to bookmark & share.

#BinanceHODLerDOLO #MITOBinanceWalletTGE #SOLTreasuryFundraising