Papertrade’s Hyperliquid Price Reference Raises Manipulation Risk
Photo: TokenPost
On-chain analyst Boblob alleged that two wallets used Hyperliquid price swings to profit from large Papertrade positions, potentially putting liquidity-provider funds at risk. Boblob alleged that the wallets placed about $20 million in orders on Hyperliquid, moving Ether prices by 10 to 20 basis points. At the same time, they reportedly opened Papertrade long positions with a combined notional value of hundreds of millions of dollars. The strategy allegedly relied on a pricing gap between the two platforms.
Source: TokenPost
