A trader lost about $3 million after a large leveraged Fartcoin position on Hyperliquid unraveled in thin liquidity and triggered auto-deleveraging. Lookonchain-flagged Hyperliquid data showed the trader had accumulated about 145 million tokens across multiple wallets before liquidation. PeckShield said the unwind left Hyperliquid’s HLP vault down roughly $1.5 million over 24 hours, though Hyperliquid had not publicly confirmed those figures by publication.