Crypto Chaos: $3M Torch Job Leaves Hyperliquid in Ashes 😱💸

So, some genius trader decided to play pyro with $3 million just to punch a $5 million hole in Hyperliquid’s vault. 🕳️🔥 Why? Because apparently, crypto is the only place where you can burn cash “for the plot.” 🤡 Only in this circus, folks. Only in this circus.

According to Lookonchain (you know, the Sherlock Holmes of blockchain), this mastermind withdrew 3 million USDC from OKX, split it into 19 wallets like it’s a drug deal, and then went full degen on Hyperliquid. 💼💥 Opened $26 million in leveraged longs tied to HYPE (because who doesn’t love a good POPCAT-denominated perpetual contract?). 🍿

Then, the pièce de résistance: a $20 million buy wall at $0.21. 🚀 Classic pump-and-dump, but with extra flair. Orders canceled, wall collapsed, liquidity vanished faster than my patience at a DMV. 🚫💦 Result? A $4.9 million loss for Hyperliquid’s vault. Oopsie. 😬

Market Manipulator: “I Did It for the Memes” 🌚

Here’s the kicker: the attacker’s $3 million? Gone. Poof. Up in smoke. 💨 Was it about profit? Nah. This was a $3 million performance art piece, or as one X user put it, “peak degen warfare.” 🎭 Another called it the “costliest research ever.” 🤓 I call it a Larry David episode gone wrong.

One guy even suggested the $3 million was hedged. Sure, Jan. 🙄 Another said it wasn’t an attack, just crypto’s version of a Banksy. 🎨 “Only in crypto do villains burn millions for the plot,” they wrote. I mean, they’re not wrong. 🤷‍♂️

Meanwhile, Hyperliquid hit the pause button on withdrawals. 🚨 “Vote emergency lock,” they said. Sounds like a bad Tinder date. 🤡 After an hour, withdrawals resumed. No official word on whether this was connected to the POPCAT fiasco. Shocker. 🙄

Moral of the story? Perp markets without liquidity buffers are like a buffet with no food-everyone’s hungry, but nobody’s eating. 🍽️ And if you’re gonna light money on fire, at least make it entertaining. 🎆

2025-11-13 12:58

Market Manipulator: “I Did It for the Memes” 🌚

Read More