In a dramatic turn of events, the decentralized trading platform Hyperliquid has been hit by a major exploit that involved some really dodgy leveraged trading on an illiquid coin named JELLYJELLY. This exploit, we are sad to announce, resulted in draining huge funds from Hyperliquid, totaling about $8 million. For a quick visual run-through of what went down, check the screenshots below, which we snagged from X (formerly Twitter). They show the timeline of events that transpired, along with many of the details we are privy to at this moment. The Setup: A High-Stakes Leveraged Play The exploit started when
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