Suspected sniping HLP: 19 wallets go long POPCAT were liquidated instantly, platform incurred a loss of about $4.9 million.

According to Wu, MLM monitoring revealed that about 13 hours ago, an address withdrew approximately 3 million USDC from OKX and split it into 19 wallets. Starting at 14:45 UTC, the relevant address continuously placed orders for POPCAT around $0.21, establishing a total long position of about $20-30 million and posting an eight-digit buy wall. Subsequently, it removed the buy wall, and about $20-30 million of POPCAT longs were liquidated within seconds, with HLP taking over the position; POPCAT further fell, and HLP incurred a loss of about $4.9 million, after which Hyperliquid manually closed the position. MLM stated that this was clearly a deliberate attack on HLP/Hyperliquid. No one would lose $3 million in a few seconds due to “negligence.”