#JELLYJELLYFuturesAlert Whale Manipulates JELLYJELLY on Hyperliquid, But Exchange Flips Loss Into Profit

A big trader (whale) on Hyperliquid manipulated the market by shorting $6M of JELLYJELLY, then self-liquidating to push losses onto the platform’s HLP vault. This caused $10M in unrealized losses for the exchange.

To fix the issue, Hyperliquid stepped in, delisted JELLYJELLY, and force-closed the trade at a better price. Instead of a huge loss, they turned it into a $700K profit.

The incident highlights risks in crypto trading, where whales can manipulate markets, but also shows how exchanges can intervene to protect their platforms