Traders are suspected of manipulating crude oil prices on Hyperliquid, involving more than $170 million.

Solidus Labs analysis revealed that a trader placed over $170 million in unusual orders through two Hyperliquid accounts between March 8th and 10th, suspected of using spoofing to manipulate market prices. The trader profited approximately $119,000 during this period, with one instance showing the trader quickly canceling approximately $17 million in sell orders while simultaneously executing approximately $425,000 in buy orders (Source: Bloomberg).