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JellyJelly Exposes Hyperliquid: An Illegal CEX Cloaked in Decentralized MarketingA trader used 3 wallets to deposit $7.1M, then manipulated JELLYJELLY, nuked HLP for 8 figures, and forced Hyperliquid to shut down the entire market to contain the damage.This wasn’t just an exploit — it exposed how centralized and fragile Hyperliquid actually is.Forget the decentralization marketing.This is a CEX with no compliance path.

JellyJelly Exposes Hyperliquid: An Illegal CEX Cloaked in Decentralized MarketingA trader used 3 wallets to deposit $7.1M, then manipulated JELLYJELLY, nuked HLP for 8 figures, and forced Hyperliquid to shut down the entire market to contain the damage.This wasn’t just an exploit — it exposed how centralized and fragile Hyperliquid actually is.Forget the decentralization marketing.This is a CEX with no compliance path.

leviathannews.substack ·

Chronology of what happened between Jelly and Hyperliquid in numbers

Chronology of what happened between Jelly and Hyperliquid in numbers

𝕏/@dsg_666 ·

Bitget CEO Gracy: Hyperliquid may be on track to become FTX 2.0. The way it handled the JELLY incident was immature, unethical, and unprofessional, triggering user losses and casting serious doubts over its integrity. Hyperliquid operates more like an offshore CEX with no KYC/AML, enabling illicit flows and bad actors. Its product design reveals alarming flaws: mixed vaults that expose users to systemic risk, and unrestricted position sizes that open the door to manipulation.

Bitget CEO Gracy: Hyperliquid may be on track to become FTX 2.0. The way it handled the JELLY incident was immature, unethical, and unprofessional, triggering user losses and casting serious doubts over its integrity. Hyperliquid operates more like an offshore CEX with no KYC/AML, enabling illicit flows and bad actors. Its product design reveals alarming flaws: mixed vaults that expose users to systemic risk, and unrestricted position sizes that open the door to manipulation.

𝕏/@GracyBitget ·

Jelly memecoin has just stopped trading on Hyperliquid

Jelly memecoin has just stopped trading on Hyperliquid

𝕏/@dsg_666 ·

Hyperliquid makes a statement on $JELLY market closure

Hyperliquid makes a statement on $JELLY market closure

t.me ·

Hyperliquid forcibly closes the $JELLY exposure for HLP as Binance lists a futures pair. Hyperliquid nukes the $JELLY market, rolls back all trades to before the attack began.

Hyperliquid forcibly closes the $JELLY exposure for HLP as Binance lists a futures pair. Hyperliquid nukes the $JELLY market, rolls back all trades to before the attack began.

𝕏/@traders_insight ·

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