A trader standing for a recent “suspicious market activity” on a hyperlik, which led to freezing and removing jelly My Jelly (Jelly) Memecoin, fell by almost $ 1 million from their actions.

Blockchain Analytics Arkham Intelligence he said In the post of March 26 to X, he tried to manipulate the system to obtain benefits from price movements, withdrawing the security before the Hyperliquid liquidation system could catch up.

The trader opened three accounts in five minutes from each other, two out of $ 2.15 million and $ 1.9 million, and the third low $ 4.1 million to cancel long positions, according to Arkham in the posthumous report.

“This allowed him to build a lever, trying to exhaust funds from hyperlików,” said Arkham.

When the price of jelly pumped by over 400%, a low position in the amount of $ 4 million came into liquidation, but the open low did not eliminate immediately, because it was too vast and instead transferred to the Vault (HLP) hyperlivation supplier, which is to eliminate the position.

At the same time, the salesman withdrew the security from the other two accounts, at the same time “7 -digit positive PNL to withdraw,” said Arkham.

However, “Exploiter” quickly hit the wall when bills, which still had millions of unrealized profits and losses, were narrow to only reducing orders, forcing them to sell tokens on the first account on the market to recover some funds.

Hyperliquid finally closed the jelly tokens market at a price of 0.0095, the same price as a low trader trade, who “threw out all floating PNL on the first two exploiter accounts.”

In total, Arkham claims that the salesman has withdrawn $ 6.26 million, but at least $ 1 million is still on accounts.

“Assuming that it can withdraw at some point in the future, his actions regarding Hyperliquid cost him a total of $ 4,000. If he is unable, he faces almost $ 1 million before losing,” said Blockchain’s analytical company.

Hyperliquid has since thrown out the eternal Futures related to jelly, citing evidence of suspicious market activity.

Other traders exploit similar tactics

This is not the first time Hyperliquid had such problems. On March 14, hyperlic increased the requirements of the margin for traders after a liquidity pool lost millions of dollars during the massive liquidation of the ether (ETH).

Related: CEO Bitget Slam Slam Hyperliquid is supported by a “suspicious” incident with token jelly

The whale trader deliberately liquidated on March 12 with a long position worth about $ 200 million, causing HLP to lose $ 4 million during relaxation.

Traders also began to hunt for whales on the platform, focused on significant positions lifted in a “democratized” attempt to eliminate them.

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