๐Ÿ”ฅPandaShield: Attackers exploited low liquidity to trigger โ€œsuicideโ€ liquidations, causing Hyperliquid HLP to lose approximately $1.5 million


On April 9, according to PandaShield monitoring, the attackers established a $15 million long position in $Fartcoin on Hyperliquid using 4 wallets (totaling 145.24 million tokens), then actively triggered โ€œsuicideโ€ liquidations in a low-liquidity environment, forcing the ADL (auto-deleveraging) mechanism to start. The HLP liquidity pool was compelled to absorb toxic assets and generated bad debt, leading to an on-book loss of approximately $3 million. In the past 24 hours, HLP has lost approximately $1.5 million. PandaShield noted that the attacker most likely hedged across venues in advance, and the actual net profit may far exceed the reported loss figures.
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