金色财经
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Whales and leading CEXs team up to target 'On-chain Binance' Hyperliquid, revealing its centralized nature?
Written by: Deng Tong, Golden Finance
On March 26, 2025, a trader 'opened a massive short position of $6 million on JellyJelly', then 'deliberately self-liquidated by pushing up the price of JellyJelly on-chain.'
To respond to this trading crisis, Hyperliquid closed JELLY trading and forcibly settled positions at a lower price. For a time, Hyperliquid was once again thrust into the spotlight, facing ongoing criticism from the industry. In fact, as early as March 12 of this year, Hyperliquid had encountered a similar crisis — a whale deliberately liquidated a long position in Ethereum worth about $200 million.
On March 26, 2025, a trader 'opened a massive short position of $6 million on JellyJelly', then 'deliberately self-liquidated by pushing up the price of JellyJelly on-chain.'
To respond to this trading crisis, Hyperliquid closed JELLY trading and forcibly settled positions at a lower price. For a time, Hyperliquid was once again thrust into the spotlight, facing ongoing criticism from the industry. In fact, as early as March 12 of this year, Hyperliquid had encountered a similar crisis — a whale deliberately liquidated a long position in Ethereum worth about $200 million.
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