The story of POPCAT being manipulated on Hyperliquid,

And as usual,

Hyperliquid steers public opinion towards CZ and Aster,

👉Reminds me of the hacks that occurred in the network related to the US,

but the articles on the platform in the US shift towards North Korean hackers,

😅There, one can see how Binance and Aster are threatening Hyperliquid,

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Event summary:

🔥Drama $30M on Hyperliquid

- A trader withdrew $3M USDC from OKX and distributed it into 19 wallets. He started to open a large long position on $POPCAT (total position up to $20–30M).

- Then placed a buy wall of $30M at the price of 0.21 to create the feeling of strong buying power, pulling others into FOMO.

👉

But unexpectedly, this buy wall on the order book was removed.

- The price crashed immediately => all $POPCAT positions were burned in seconds.

- Trader lost all $3M

- The HLP system of Hyperliquid had to bear an additional $4.9M

=> $POPCAT halved in price

Hyperliquid had to intervene and temporarily suspend withdrawals on the Arbitrum network.

Many people suspect this is not a bug, but an attack or stress test aimed at the liquidity system of the exchange.

❗

This is already the third time Hyperliquid has encountered a major incident this year after JellyJelly and XRP