Oliver Knight
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HyperLiquid's native token (HYPE) fell by 20% after HLP's unrealized PNL temporarily stood at negative $13.5 million
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Hyperliquidity Provider (HLP), a market making vault that is a part of derivatives exchange HyperLiquid, faced a grueling loss after a trader allegedly manipulated the price of the JELLY token
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The case draws similarities to an exploit that occurred on Mango Markets in 2022, where a trader called Avraham Eisenberg created a "highly profitable trading strategy" that involved manipulating oracle prices to secure a gain on derivative markets
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