Market Manipulation
Analysts link BTX Capital to a coordinated trading setup on Hyperliquid that jolted POPCAT prices; on-chain patterns suggest manipulation. The episode raises fresh questions about market surveillance and liquidity risk for small tokens.
An anonymous trader reportedly burned $3 million in a coordinated scheme that forced roughly $5 million in losses at the Hyperliquid protocol, using $26 million in POPCAT positions and a fake $20 million buy wall to manipulate liquidations.
Arkham Intelligence reported abnormal on-chain trading before POPCAT's sharp drop and says roughly $5M of bad debt was pushed to Hyperliquid's Hyperliquidity Provider (HLP). The findings raise manipulation and liquidity-provider risk concerns for the decentralized perpetuals platform.
An alleged market manipulation on Hyperliquid saw an anonymous trader fake a $20M buy wall and spend roughly $3M in minutes, triggering a POPCAT flash crash and about $4.9M in suspicious flows, community observers say.
POPCAT fell about 43% after a roughly $30 million manipulation on Hyperliquid, according to DeFi researcher Hanzo. An unknown trader executed a coordinated strategy roughly 13 hours before the market disruption.
POPCAT plunged about 25% after a single trader’s $3M leveraged bet triggered roughly $30M in liquidations on Hyperliquid, rattling DeFi markets on Nov. 13. The episode underscores ongoing leverage and manipulation risks on high-leverage platforms.
Solana memecoin Popcat saw trading volume spike 500% after market manipulation allegations on Hyperliquid DEX, triggering roughly $63 million in liquidations. The event highlights risks around leveraged trading and DEX safeguards within the Solana ecosystem.
POPCAT experienced anomalous price action traced to an aggressive trader on Hyperliquid who appears to have pushed the token price to inflict liquidity losses. On-chain observers flagged repeated large directional trades and order-book pressure as the cause of the move.
Hyperliquid paused deposits and withdrawals after an onchain analyst speculated a trader tried to prop up memecoin POPCAT. The interruption has left users unable to move funds and raised questions about market manipulation and exchange risk.
Aleksei Andriunin, founder and CEO of Gotbit, has been sentenced to eight months in U.S. prison for market manipulation and wire fraud. After serving his term, he faces deportation, and Gotbit must forfeit $23 million in cryptocurrency as part of FBI's Operation Token Mirrors.