coin-img-ETHETH+0.92%coin-img-BTCBTC-1.06%coin-img-SOLSOL-0.23%coin-img-UCNUCN+0.55%coin-img-XRPXRP+3.42%coin-img-ASTERASTER-2.90%coin-img-USDCUSDC-0.02%coin-img-HYPEHYPE-1.37%coin-img-ETHETH+0.92%coin-img-BTCBTC-1.06%coin-img-SOLSOL-0.23%coin-img-UCNUCN+0.55%coin-img-XRPXRP+3.42%coin-img-ASTERASTER-2.90%coin-img-USDCUSDC-0.02%coin-img-HYPEHYPE-1.37%coin-img-ETHETH+0.92%coin-img-BTCBTC-1.06%coin-img-SOLSOL-0.23%coin-img-UCNUCN+0.55%coin-img-XRPXRP+3.42%coin-img-ASTERASTER-2.90%coin-img-USDCUSDC-0.02%coin-img-HYPEHYPE-1.37%coin-img-ETHETH+0.92%coin-img-BTCBTC-1.06%coin-img-SOLSOL-0.23%coin-img-UCNUCN+0.55%coin-img-XRPXRP+3.42%coin-img-ASTERASTER-2.90%coin-img-USDCUSDC-0.02%coin-img-HYPEHYPE-1.37%

Hyperliquid's HLP Vault Loses $4.9M in Coordinated POPCAT Long Position Liquidation

Hyperliquid's HLP vault lost $4.9 million on Nov. 12 after a coordinated trading operation involving POPCAT triggered mass liquidations, MLM monitoring data show. An entity withdrew 3 million USDC from OKX, distributed funds across 19 wallets, and established approximately $30 million in long positions on POPCAT around 14:45 CET while placing a $20 million buy wall at $0.21. When the buy wall was removed, the coordinated long positions worth $20-30 million liquidated within seconds, transferring positions to HLP as POPCAT declined further. Hyperliquid manually closed the positions, and the Arbitrum bridge was temporarily paused while other deposits and withdrawals remained operational.
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