$1.28 million drained in 8 hours
Just 8 hours after Papertrade launched, a Hyperliquid veteran made $1.28 million in net profit with 305 trades, an average holding time of 98 seconds, and 296 winning trades. He aggressively opened long and short positions on Papertrade while dumping 6,600 ETH on Hyperliquid to push prices down, repeatedly closing positions to pocket arbitrage profits.
The platform uses real-time order book prices, so large orders can move the market. The attacker’s final 30 short positions were all liquidated when ETH rebounded to $2,509, costing him $450,000—but his overall balance was still in the black. When there’s a flaw in the pricing logic, money will flow right through it.
If ETH makes a sudden move on Hyperliquid, will your stop-loss hold?
Just 8 hours after Papertrade launched, a Hyperliquid veteran made $1.28 million in net profit with 305 trades, an average holding time of 98 seconds, and 296 winning trades. He aggressively opened long and short positions on Papertrade while dumping 6,600 ETH on Hyperliquid to push prices down, repeatedly closing positions to pocket arbitrage profits.
The platform uses real-time order book prices, so large orders can move the market. The attacker’s final 30 short positions were all liquidated when ETH rebounded to $2,509, costing him $450,000—but his overall balance was still in the black. When there’s a flaw in the pricing logic, money will flow right through it.
If ETH makes a sudden move on Hyperliquid, will your stop-loss hold?