在有爭議的果凍代幣事件中進行有爭議的處理後，超流動可能會成為FTX 2.0

Bitget的首席執行官Gracy Chen今天警告說，在有爭議地處理果凍代幣事件後，加密貨幣交易平台超級流動的潛在風險。

Bitget CEO Gracy Chen has issued a stark warning about the potential risks at crypto trading platform Hyperliquid following the controversial handling of the JELLY token incident.

Bitget首席執行官Gracy Chen在有爭議地處理果凍代幣事件後，對加密貨幣交易平台超級流動的潛在風險發出了明顯的警告。

Taking to X on Sunday, Chen penned a thread to share her "thoughts" on the unfolding saga, which saw the platform hit with a massive loss after a trader liquidated a large position.

週日，陳在X上，撰寫了一條線，分享了她在展開的傳奇上分享她的“想法”，該平台在交易員清算了一個大職位後遭受了巨大的損失。

The Bitget CEO began by saying that Hyperliquid "may be on track to become FTX 2.0" following a series of missteps.

BITGET首席執行官首先說，在一系列失誤之後，Hyperliquid“可能正在成為FTX 2.0”。

"The way it handled the $JELLY incident was immature, unethical, and unprofessional, triggering user losses and casting serious doubts over its integrity," Chen wrote.

Chen寫道：“它處理$果凍事件的方式是不成熟的，不道德的，不專業的，引發了用戶損失，並對其完整性產生了嚴重的懷疑。”

The platform faced turmoil after a trader opened and deliberately self-liquid liquidated a $6 million short position on JellyJelly (JELLY), a new token that launched on March 22. The move forced Hyperliquid to absorb substantial losses.

該平台在一名交易員開設並故意自我液體的情況下面臨動盪，在3月22日推出的新代幣jellyjelly（Jellyjelly）上清算了600萬美元的短職位。此舉迫使超級流動性吸收了大量損失。

The token’s market cap surged from approximately $10 million to over $50 million in under an hour due to the forced squeeze.

由於強迫擠壓，代幣的市值從大約1000萬美元飆升至一個小時以上的超過5000萬美元。

The incident unfolded as the token price plummeted to nearly zero following the liquidation, and the system began liquidating other traders to recover the funds.

清算後，由於令牌價格下降到近乎零，並且該系統開始清算其他商人以收回資金。

However, the rapid liquidation cascade led to a chain reaction, ultimately resulting in Hyperliquid bearing a significant portion of the loss.

然而，快速清算級聯反應導致鏈反應，最終導致多個損失的大部分損失。

The CEO went on to criticize Hyperliquid’s operational structure, stating:

首席執行官繼續批評超流動性的運營結構，並指出：

“Despite presenting itself as an innovative decentralized exchange with a bold vision, Hyperliquid operates more like an offshore CEX with no KYC/AML, enabling illicit flows and bad actors.”

“儘管以大膽的願景表現為一種創新的分散交流，但Hyperliqu的運作更像是一個沒有KYC/AML的離岸CEX，可以使非法流動和不良演員。”

Chen highlighted structural concerns about Hyperliquid’s platform, including “mixed vaults that expose users to systemic risk, and unrestricted position sizes that open the door to manipulation.”

Chen強調了有關超流油平台的結構性關注，其中包括“將用戶暴露於系統性風險的混合拱頂以及打開操縱之門的不受限制位置大小。”

The Bitget CEO concluded her thoughts by saying that while the incident was "unfortunate," it could have been avoided with better risk management practices and a deeper understanding of the potential consequences of their actions.

BITGET首席執行官總結說，她的想法是說，儘管事件是“不幸的”，但可以通過更好的風險管理實踐和對其行動的潛在後果有更深入的了解來避免這種情況。

Earlier this week, Binance announced plans to list JELLY perpetual futures amid the controversy, which some users interpreted as a move to target Hyperliquid’s position.

本週早些時候，Binance宣布了在爭議中列出果凍永久未來的計劃，一些用戶將其解釋為針對超級流動性位置的舉動。