Hyperliquid XPL liquidation scheme alleged
An onchain analysis claims 11 accounts pulled margin before an 18% XPL drop and let a $12M position liquidate into HLP, costing the vault ~$0.6M.
What we know
Per an account on X via another account on X, the accounts were freshly funded via CCTP and ran test withdrawals 20-50 minutes ahead of time, suggesting coordinated manipulation targeting the HLP vault.
By the Global Eye 24 desk, with AI assistance. Updated as the story develops. Spot an error? Write to corrections@globaleye24.com.