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W wonnie
Wonnie🔺
@wonnie

Today’s Incident: @HyperliquidX vs JELLYJELLY Short Squeeze Meltdown A whale trader opened a massive 430 million $JELLY short position on Hyperliquid. They partially closed (30M JELLY), withdrew $2.76M USDC margin, and vanished. The remaining 398M JELLY short position was automatically absorbed by the Hyperliquid Vault (HLP).

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32 Reposts 1 Quotes 58 Likes 3 Bookmarks
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36 replies collected of 56 X reports
W wonnie
Wonnie🔺 @wonnie · 31K

@HyperliquidX Traders started buying up JELLY on spot markets, intentionally pushing the price up. The short squeeze triggered massive unrealized losses for HLP. At its peak, HLP was facing over $10 million in unrealized losses.

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S Smolpeach33
Smolnaut @Smolpeach33 ·

@wonnie @HyperliquidX yeah cool. the trader ended up making a loss but now it seems @cz_binance is fishing to 'bail out' @HyperliquidX like he offered with FTX. i think that's premature

1 1
O jokeo418959
odong 🫎 @jokeo418959 ·
1 1
S Bagas_lovers
Samuel adhi bagas @Bagas_lovers ·

@wonnie @HyperliquidX W move from Hyperliquid !!!

K 0xKinu1
Kinu @0xKinu1 ·

@wonnie @HyperliquidX Letsgooooooo!!

Y yy33th
yeeth @yy33th ·
P wen200ethbackup
PokerBen @wen200ethbackup ·

@wonnie @HyperliquidX 🔥🔥🔥🔥🔥🔥

P PiStOlPEtE404
PistolPete🐸✊ @PiStOlPEtE404 ·

@wonnie @HyperliquidX HYPE back up.

A sa_anandhan
Anandhan SA "base.eth" @sa_anandhan ·

@wonnie @HyperliquidX Market makers always manipulate to maximize their profit 🙂 @HyperliquidX I had some reputation and trust on your platform😶 and blindly staked some hype, Don't make me regret

M Mouunsgf
Mouuns ⚡ @Mouunsgf ·
J notjazii
J A Z I I @notjazii ·

@wonnie @HyperliquidX New day new drama

1 1
U uniquesingh__
Unique singh @uniquesingh__ · 16K

@wonnie @HyperliquidX W move from hyperliquid

C checkmeh1
checkmeh @checkmeh1 ·
L sabbani1289
LEE🧩 @sabbani1289 ·
L LandFill5555
LandFill @LandFill5555 ·
F fabsverseweb3
Fabsverse @fabsverseweb3 · 40K

@wonnie @HyperliquidX That $JELLY short squeeze was wild, whale vanished, vault ate the rest. Hyperliquid always delivers drama.

K Kaiz_294
Kaiz 🐂🀄️ @Kaiz_294 · 11K

@wonnie @HyperliquidX This incident really exposes the risks of unchecked volatility in DeFi. Hyperliquid needs better safeguards to prevent such meltdowns and rebuild trust.

J jetlee0828
jetlee @jetlee0828 ·
S slade__willson
Slade (❖,❖) @slade__willson ·
G goraebob_art
goraebob @goraebob_art ·
🅰 A1phaCrypt0
🅰️1phaPluto @A1phaCrypt0 ·
S terjang1000
SilentRogue | ETHGas ⛽ @terjang1000 ·
D kaniska1985
Dragonking $DROPEE @kaniska1985 ·

@wonnie @HyperliquidX Jelly shit

N 0xnimdal
Nimdal @0xnimdal ·

@wonnie @HyperliquidX I saw the CEX's check on the world's best DEX. It was a sudden, difficult to respond attack, but I think @HyperliquidX handled it very calmly.

D deji_nfts
Deji 🐑 @deji_nfts ·
I simplenlazy
its me💢 @simplenlazy ·
J Jayesh_0074
JAYESH 🧲💰 @Jayesh_0074 ·

@wonnie @HyperliquidX Omg this much manipulation 😳

R dreamchase156
rrrk @dreamchase156 ·
L Legendxweb3
Legend X @Legendxweb3 ·

@wonnie @HyperliquidX Hyper on top

노 Kimminho218
노랑병아리 Yellowchick.edge🦭 @Kimminho218 ·
P _Anon2001
Payne @_Anon2001 ·
E 0xerzascarlett
Erza scarlet @0xerzascarlett ·

@wonnie @HyperliquidX thanks for the info

B bearclaw0731
bearclaw @bearclaw0731 ·
O web3oreoreo
Oreoreo🍪 @web3oreoreo ·
🛸 Brusho_NFT_
🛸Brush0 ❤️ Memecoin @Brusho_NFT_ ·
V Vito_CK
vitock.eth ☯️ $Lingo $Reach 🐉 $MON $MGT @Vito_CK ·

@wonnie @HyperliquidX Ahh, this sucks. Idk how they can state this is not a bug, but rather how it works :D This means anybody who is able to do that, will screw them

5 replies whose parent comment X withheld

W wonnie
Wonnie🔺 @wonnie · 31K

@HyperliquidX As HLP losses mounted, community trust eroded. The situation became less about the whale trader and more about Hyperliquid’s systemic risk exposure. $HYPE token price dropped sharply alongside growing fear.

3 5
W wonnie
Wonnie🔺 @wonnie · 31K

@HyperliquidX Hyperliquid announced via Discord that they had identified suspicious market manipulation. They delisted JELLY perpetuals and promised compensation for users (excluding the suspicious addresses).

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W wonnie
Wonnie🔺 @wonnie · 31K

@HyperliquidX HLP ultimately closed the JELLY short positions at $0.0095, recovering around $700K in profit. However, this move also force-liquidated long traders at that price, sparking anger and controversy.

1 4
W wonnie
Wonnie🔺 @wonnie · 31K

@HyperliquidX The incident highlighted centralized decision-making and poor risk management on a platform claiming to be decentralized. While such actions are expected on centralized exchanges, they shattered trust in Hyperliquid as a DeFi platform.

1 3
W wonnie
Wonnie🔺 @wonnie · 31K

@HyperliquidX Crypto remains unpredictable Platforms must prioritize security and fair systems over unchecked growth. Whale manipulations are hard to stop, but structural safeguards are key. Trust, once broken, is incredibly hard to regain.

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