FTX崩潰留下的傷口尚未癒合，它的幽靈再次困擾著加密貨幣宇宙。

這次，聚光燈是在超級流動式上，是華麗的炒作令牌的發行人。果凍代幣周圍操縱的案例剛剛使脊椎發冷

The wounds left by the collapse of FTX are not yet healed, and already, its specter haunts the crypto universe again. This time, the spotlight is on Hyperliquid, the issuer of the flamboyant HYPE token. A case of manipulation surrounding the JELLY token has just sent chills down the spine, awakening painful memories of unregulated finance.

FTX崩潰留下的傷口尚未癒合，它的幽靈再次困擾著加密貨幣宇宙。這次，聚光燈是在超級流動式上，是華麗的炒作令牌的發行人。圍繞果凍代幣操縱的案例剛剛使脊椎發冷，喚醒了不受管制的金融的痛苦記憶。

Hyperliquid shaken by the loss of 13.5 million: the JELLY crypto becomes a nightmare

因損失1,350萬的震撼而震撼：果凍加密成為一場噩夢

The scenario seems written to disturb. On Hyperliquid, a crypto trader opens a short position of 6 million dollars against the JELLY token, freshly listed. Until then, nothing unprecedented in the world of perpetual contracts. But the story takes a turn when the trader, in a gesture as cynical as it is effective, triggers their own liquidation by artificially pumping the token’s price. The consequence? A chasm of 13.5 million dollars for the platform’s “vault”.

這種情況似乎是為了打擾。在Hyperliquid上，加密貨幣交易員對剛上市的果凍代幣打開了600萬美元的短股。在此之前，永久合同世界中沒有任何空前的事。但是，當交易者以憤世嫉俗的態度雖然有效，故事就會轉彎，從而通過人為地抽出代幣的價格觸發了自己的清算。結果？該平台的“金庫”的鴻溝為1350萬美元。

In a statement published on X, Hyperliquid acknowledges its faults:

在X上發表的一份聲明中，Hyperliquid承認其錯誤：

"We take responsibility for what happened and are working to improve our risk management systems. The loss of the vault has been covered. This should never have happened."

“我們對所發生的事情負責，並正在努力改善我們的風險管理系統。已經涵蓋了保險庫的損失。這絕對不應該發生。”

A welcome clarity, but insufficient to stifle the unease. The crypto community is grumbling. Doubt settles in. How can a platform supposed to symbolize the future of decentralized finance fall for such blatant traps? To this question, no code audit will respond.

令人歡迎的清晰度，但不足以扼殺不安。加密社區正在抱怨。懷疑會解決。一個平台應該如何象徵著分散的財務未來的這種公然陷阱？對於這個問題，任何代碼審核都不會響應。

This is a question of governance, vigilance, and unfulfilled promises. And already, some investors speak of a “mini FTX disguised as a DEX.”

這是一個治理，警惕和未實現的承諾的問題。而且，一些投資者已經談到了“被偽裝成Dex的迷你FTX”。

Binance in turmoil: between risky crypto listings and evasion strategy

動盪中的binance：在風險的加密貨幣清單和逃避策略之間

The JELLY affair does not stop at the borders of Hyperliquid. Binance, the crypto market giant, has also found itself in the storm. The JELLY token had been listed shortly before the affair exploded. Two communication posts were then hastily deleted. Simple crisis management or disguised panic?

果凍的戀情並沒有停止在超級流動的邊界。加密市場巨頭Binance也發現了自己的風暴。事件發生前不久，果凍代幣已被列出。然後匆忙刪除了兩個通訊站。簡單的危機管理還是偽裝的恐慌？

No one responds, and the silence resonates as an admission.

沒有人做出回應，沉默引起了共鳴。

Gracy Chen, CEO of Bitget, did not mince words:

Bitget首席執行官Gracy Chen並沒有刺激言語：

"The delisting of JELLY without explanation is a red alert. Centralized or decentralized platforms owe transparency and accountability to their community."

“沒有解釋的果凍是紅色的警報。集中或分散的平台應歸功於其社區的透明度和問責制。”

The comparison with FTX does not take long to flourish, with troubling elements:

與FTX的比較並不需要很長時間，令人不安的元素：

The crypto trader behind the squeeze is now in the red, with an estimated loss of over 1 million dollars.

擠壓背後的加密交易者現在處於紅色狀態，估計損失超過100萬美元。

In an ecosystem where trust is the rarest commodity, the slightest misstep goes viral. And the Binance platform, already under the watchful eye of regulators, did not need this new episode to undermine its reputation.

在信任是最稀有商品的生態系統中，絲毫失誤流行了。而且Binance平台已經在監管機構的關注之下，不需要這一新劇集來破壞其聲譽。

The JELLY affair acts here as a revealer. What was to be just another memecoin becomes the fuse of a global controversy.

果凍事件在這裡充當揭露者。只是另一個模因成為全球爭議的融合。

In the crypto universe, memory is vivid and recent scars

在加密貨幣宇宙中，記憶是生動的，最近的傷痕

It only takes a misplaced tweet, a poorly managed crypto, or a security lapse for the crypto universe to tip over. Investors’ memory is short but vivid. And the wounds left by FTX still bleed. For the JELLY affair does not just evoke a mistake. It evokes a structural flaw, a blind spot that technology alone cannot fill.

它只需要放錯位置的推文，管理不善的加密貨幣或加密宇宙的安全性。投資者的記憶很短但生動。 FTX留下的傷口仍然流血。因為果凍事件不僅喚起了一個錯誤。它喚起了一個結構性缺陷，這是一個僅憑技術無法填補的盲點。

Hyperliquid, despite a hybrid architecture praised for its speed, suffers from a more insidious evil: a cruel lack of developers and validators to keep pace with a growing ecosystem. Without manpower to enhance security, audit smart contracts, and evolve the protocol, promises unravel.

儘管以其速度稱讚了混合建築，但仍有一個更陰險的邪惡：殘酷缺乏開發人員和驗證者，無法與日益增長的生態系統保持同步。沒有人力來增強安全性，審核智能合約並發展協議，就會承諾解散。

Some observers are already comparing the affair to a remake of FTX, with differences in scenery but similarities in substance:

一些觀察者已經將事件與FTX的翻拍進行了比較，風景差異，但物質相似之處：

“We thought we had learned the lessons. We thought projects would have strengthened their defenses. But here the flaw opens again, gaping, in a jelly token that has become too slippery for crypto control.”

“我們認為我們已經學到了這些教訓。我們認為項目會加強他們的防禦能力。但是，在這裡的缺陷再次打開，張開，在果凍代幣中變得太滑了，無法進行加密控制。”

Hyperliquid, propelled by a still-performing HYPE crypto and an attractive technical architecture, remains under the spotlight. But will it avoid disaster? In a world where bugs, betrayals, or absences of developers can tip everything over, a single spark is enough to ignite the fire.

超流動性，受到仍然表現不佳的炒作加密和有吸引力的技術體系結構的推動，仍然是焦點。但是它會避免災難嗎？在一個蟲子，背叛或開發人員缺席的世界中，單個火花足以點燃火。

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