02/ When the price of #JELLYJELLY increased, a short position of 4 million dollars quickly entered a forced liquidation state—but the position size was too large to be liquidated normally.

This open short was transferred to the #Hyperliquidity Provider Vault (HLP), which was supposed to attempt to liquidate this enormous position.

Meanwhile, the attacker was extracting collateral assets from accounts 0x20e and 0x67f, as the price of JELLYJELLY had surged over 400%, resulting in a 7-figure positive PnL (profit and loss) in their accounts, allowing for large withdrawals.