A coordinated attempt to manipulate the price of Fartcoin (FART) on Hyperliquid ended in a $3 million liquidation loss after the scheme triggered an automatic safety mechanism that forced the platform’s own liquidity pool to absorb the fallout.
However, blockchain analysts tracking the incident say the attacker likely walked away with a net profit through hedged positions they had placed elsewhere, leaving Hyperliquid’s liquidity providers holding the bag.
How the Attack Unfolded
According to Peckshield and Lookonchain, a single entity spread about $15 million worth of FART long positions across four wallets, accumulating over 145 million tokens. Their data shows the wallets were funded from Binance and Bybit, with three of them traced by on-chain researcher mlmabc to the same entity that had previously squeezed the XPL token.
The alleged manipulator deliberately chose a low-liquidity environment, which made it easier for them to move the price, with Fartcoin going up by about 20%
We współpracy z: https://cryptopotato.com/fartcoin-manipulation-attempt-backfires-with-3m-liquidation/
