Degen Warfare: $5M Loss in Crypto Market Manipulation
Update: 2025-11-13
Description
On November 13th, Hyperliquid, a decentralized trading platform, suffered a significant financial loss of nearly five million dollars due to a market manipulation scheme involving the digital token POPCAT. An attacker exploited thin market depth and automated systems, creating artificial demand and profiting from the resulting chaos, leaving the platform with a substantial loss.
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