[Hyperliquid Attacked, Resulting in $4.9 Million Bad Debt for HLP]
Arkham monitoring indicates that an attacker carried out a suspected deliberate attack targeting HLP (Hyperliquidity Provider) on the Hyperliquid platform. The attacker used 19 wallets and $3 million in principal to establish a leveraged long position worth $20-30 million in POPCAT with 5x leverage, while setting up a massive buy wall. Subsequently, the attacker withdrew the buy wall, causing a flash crash in the price of POPCAT, and their $3 million collateral was quickly liquidated to zero. Due to insufficient liquidity, HLP took over the position, ultimately resulting in $4.9 million in bad debt losses. Analyst @mlmabc pointed out that this act was a deliberate attack targeting HLP and Hyperliquid.