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HyperLiquid Delists JELLY After Vault Squeezed in $13M Tussle

HyperLiquid is facing concern and criticism over a dramatic forced settlement to stave off an apparent exploit.

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HyperLiquid delisted JELLY perps after a $13.5M loss due to market manipulation, while Binance's response triggered a 560% price surge.

What’s the Scoop?

  • Market Manipulation: A trader exploited spot trading and short positions, causing HyperLiquid’s automated market maker vault to face unrealized losses of $13.5 million.
  • Forced Market Closure: HyperLiquid delisted JELLY token perps and forcibly closed all positions, settling prices at $0.0095 to contain further impact.
  • Binance Binance Listing Response: In a surprising twist, Binance listed JELLY futures, triggering a 560% spike in spot prices.
  • Foundation Foundation Compensation: HyperLiquid announced affected users, except flagged accounts, would be compensated automatically by the Hyper Foundation.

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