【Hyperliquid Vault Attacked Again: Organized, Premeditated, and More Cunning; If Binance Releases Related Benefits, It May 'Directly End the Competition'】

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PANews March 26, news, @ai_9684xtpa released an overview of the Hyperliquid vault being attacked again: 1. A whale on Hyperliquid with 50x leverage previously used the Hyperliquid mechanism to 'actively liquidate 160,000 ETH long positions' and withdrew a profit of $1.857 million; 2. A more cunning choice of target: At that time, the whale chose ETH on Hyperliquid, but this time the attacker’s target was the deeply divergent Memecoin $Jellyjelly, making price manipulation much easier; 3. Setting bait with airdrop: Address 0xde9...f5c91 opened a $408 million $JELLY short position on Hyperliquid, with an opening price of $0.0095 and a margin of 3.5 million USDC; 4. Replaying the active liquidation: Another address Hc8gN...WRcwq, after opening the short position, collaborated by dumping spot to lower the coin price, allowing the short position to show floating profit, while the opening address withdrew 2.76 million USDC of margin, repeating the technique which caused the position liquidation to be taken over by the vault and then bought to empty the vault: Two waves of intense buying starting at 21:01 and 21:45 further enlarged the vault's floating loss until the amount was huge enough to attract market attention. As long as Jellyjelly does not drop, HLP's retail investors will withdraw their funds; the more funds withdrawn, the lower the liquidation price will be. This can be understood as 'the early runners profiting from the late runners,' followed by a run on HLP, and eventually, it may not even require Jellyjelly to pull much; the vault could be forcibly liquidated due to insufficient margin... However, currently, HLP's TVL has decreased by about $20 million, and the liquidation price for the short position has dropped to around $0.14. The last buy operation from the address manipulating the coin price was 1 hour ago, and this address currently holds 124 million Jellyjelly (worth $4.86 million), making it the top on-chain holding address. This address currently has no more funds available for purchase, which is also the main reason for the significant fluctuations in coin price. As one of Hyperliquid's main competitors, if Binance releases related benefits, such as listing Jellyjelly spot or others, it will directly end the competition.

-----------------------------#币安合约将上线JELLYJELLY