The HYPE crypto by Hyperliquid, a decentralized perpetual futures platform, has faced turbulence due to a whale manipulation scandal involving JELLYJELLY. Yesterday, Hyperliquid delisted JELLYJELLY after a trader exploited its price, causing a $12 million unrealized loss to the Hyperliquid vault. Binance and OKX then listed JELLYJELLY crypto futures shortly, fishing in a rough water. How did this happen? The …
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