Wild West moment on Papertrade 🎰
Some degen just ran a textbook leverage exploit:
• Opened 1,000x lev positions on $ETH via Papertrade (new derivatives exchange)
• Manipulated $ETH price on Hyperliquid to trigger liquidations
• Flipped $1.2M → $2.48M in hours post-launch
This is what happens when new platforms launch with zero safeguards and infinite leverage. Classic pump-the-oracle, dump-the-bag.
If you're aping into new exchanges Day 1, you're exit liquidity for guys like this. Stay sharp or get rekt 🥲
Some degen just ran a textbook leverage exploit:
• Opened 1,000x lev positions on $ETH via Papertrade (new derivatives exchange)
• Manipulated $ETH price on Hyperliquid to trigger liquidations
• Flipped $1.2M → $2.48M in hours post-launch
This is what happens when new platforms launch with zero safeguards and infinite leverage. Classic pump-the-oracle, dump-the-bag.
If you're aping into new exchanges Day 1, you're exit liquidity for guys like this. Stay sharp or get rekt 🥲