#JELLYJELLYFuturesAlert

Whale Warfare: The $JELLY Manipulation That Broke Hyperliquid

A massive whale holding 124.6M JELLY ($4.85M) orchestrated a brutal price manipulation, forcing Hyperliquidity Provider (HLP) into a $12M loss.

How It Happened:

1️⃣ The whale dumped #JELLY , crashing its price and leaving HLP stuck with a passive short position of 398M JELLY ($15.3M).

2️⃣ He then bought back JELLY, sending the price surging—directly inflicting a $12M loss on HLP.

Key Addresses:

Whale: Hc8gNSMaQiahiRiGjUfTaW8AXudRJHeGoeGpAn8WRcwq

Attack Funds Origin: 0xde9593Fe5cDC5Cb0917f5d5618A111F1174f5c91 (Withdrawn from OKX & Binance)

Hyperliquid’s Response:

Despite the chaos, Hyperliquid liquidated 392M JELLY ($3.72M) at $0.0095, pocketing $703K in profit without suffering losses themselves.

In a decisive move, Hyperliquid delisted JELLY (#jellyjelly ), shutting down further manipulation.

A classic example of high-stakes crypto warfare—whales play, and platforms pay.