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#美国终止政府关闭 An on-chain detective Lookonchain has just revealed a ruthless act: someone executed a textbook-level price manipulation, using POPCAT as a weapon to attack Hyperliquid, incurring a loss of 3 million dollars, but causing the platform's liquidity pool HLP to get liquidated by 4.9 million.
The method is quite classic—this guy first moved 3 million USDC from a certain exchange, dispersed it into 19 addresses to disguise as retail investors, then uniformly rushed into Hyperliquid, directly smashing down 125.14 million HYPE to open long positions, with a nominal value of 26.28 million USD. This operation directly caused the POPCAT price to get liquidated, and by the time the market reacted, HLP had already been cashed out and harvested clean.
To be honest, this kind of betting-style attack is becoming more and more common. Attackers don't care about their own losses; they just bet that the platform's mechanism can't withstand the impact. Hyperliquid has paid the tuition this time, and it will probably need to strengthen abnormal trading monitoring in the future.