• A market attacker inflicted a $4.9 million loss on Hyperliquid’s HLP fund through a POPCAT price manipulation.
• The attack was “loss-leading,” as the attacker was fully liquidated, losing their entire $3 million in collateral in the process.
• The manipulation involved creating a $20 million “illusory” buy wall to inflate the price before canceling it to trigger a liquidity collapse.

A new, bizarre form of market attack has been identified on the Hyperliquid derivatives platform. Lookonchain reports that an attacker intentionally lost $3 million in collateral to inflict a $4.9 million loss on the Hyperliquidity Provider (HLP) fund via a POPCAT manipulation.

Read The Full Article ‘Peak Degen Warfare’: Attacker Wipes Out $3M Collateral to Inflict $4.9M Loss on Hyperliquid’s HLP Fund On Coin Edition.

• A market attacker inflicted a $4.9 million loss on Hyperliquid’s HLP fund through a POPCAT price manipulation.
• The attack was “loss-leading,” as the attacker was fully liquidated, losing their entire $3 million in collateral in the process.
• The manipulation involved creating a $20 million “illusory” buy wall to inflate the price before canceling it to trigger a liquidity collapse.

A new, bizarre form of market attack has been identified on the Hyperliquid derivatives platform. Lookonchain reports that an attacker intentionally lost $3 million in collateral to inflict a $4.9 million loss on the Hyperliquidity Provider (HLP) fund via a POPCAT manipulation.

Read The Full Article ‘Peak Degen Warfare’: Attacker Wipes Out $3M Collateral to Inflict $4.9M Loss on Hyperliquid’s HLP Fund On Coin Edition.