#JELLYJELLYFuturesAlert

Today, the market witnessed a notable incident when Hyperliquid, a decentralized perpetual futures trading platform, decided to delist the JELLYJELLY contract after a price manipulation event. Specifically, a trader opened a short position worth 6 million USD, then pumped the token price on-chain to force the liquidation of their own position, resulting in an unrealized loss of approximately 12 million USD for the Hyperliquidity Provider (HLP) reserves. This prompted Hyperliquid's validators to intervene, voting to remove the contract and committing to refund most users (except flagged addresses) in the coming days.