Data: A whale holding 126 million JELLY is manipulating the coin price, causing HLP to lose nearly 12 million dollars

2025-03-26 22:37:54

ChainCatcher news, according to Lookonchain monitoring, a whale holding 126 million JELLY (jellyjelly) is manipulating the coin price.

The address first sold JELLY, causing a price crash, which allowed HLP to have a passive short position of 398 million JELLY (approximately 15.3 million USD).

Then the address bought back JELLY, driving up the price, resulting in HLP losing nearly 12 million USD.

Source

Risk warning

Column Hyperliquid Incident Tracking of "Sniping"

On the evening of March 26, 2025, due to the price fluctuations of the JELLY token, the Hyperliquid counterpart vault was on the verge of liquidation, and the entire protocol treasury faced the risk of going to zero. How will the situation develop?