高流动性是一个专门从事永久期货合约的分散交易平台，经历了危机

Hyperliquid是一个专门从事永久期货合约的分散交易平台，在3月26日被迫将基于Solana的Memecoin Jellyjelly遇到了危机

Decentralized trading platform Hyperliquid, which specializes in perpetual futures contracts, encountered an issue on March 26 when it was forced to delist Solana-based memecoin JELLYJELLY after a whale manipulated its price.

专门从事永久期货合约的分散交易平台超级流动台在3月26日遇到了一个问题，当时它被迫在鲸鱼操纵价格后被迫基于Solana的Memecoin Jellyjelly。

The manipulation resulted in nearly $12m in unrealized losses on Hyperliquid’s HLP(Hyperliquid Pool) vault, exposing flaws in the automated trading system. A trader initiated an 8 million dollar short position on JELLYJELLY before buying token quantities from different exchanges to inflate its market price.

该操作导致了超流利的HLP（超流液池）保险库的近1200万美元未实现的损失，从而在自动交易系统中暴露了缺陷。一位交易者在Jellyjelly上发起了800万美元的短期职位，然后从不同的交易所购买代币数量以夸大其市场价格。

As the price went up, Hyperliquid’s liquidity vault, responsible for handling trades, received a huge short position. The vault sustained severe losses because of JELLYJELLY’s skyrocketing price. The manipulation went undetected until the token reached a $50 million market capitalization point, at which time market officials executed delisting.

随着价格上涨，负责处理交易的高级流动性保险库获得了巨大的职位。由于Jellyjelly的价格飞涨，该金库造成了严重的损失。该操作尚未被发现，直到令牌达到5000万美元的市值为止，这时市场官员执行了忠诚。

Centralized Exchanges Join the Fray Amid Crisis

集中式交流加入危机中的竞争

Amid the turmoil, centralized exchanges Binance and OKX listed perpetual futures for JELLYJELLY. The exchange listing of JELLYJELLY futures contracts further intensified the trading frenzy, which brought the risk of vault depletion at the platform closer.

在动荡，集中式交流二元和OKX列出了Jellyjelly的永久期货中。 Jellyjelly Futures合同的交换清单进一步加剧了交易疯狂，这使平台更接近了保险库耗尽的风险。

With the rising pressure, Hyperliquid announced the suspension of JELLYJELLY trading as they planned to conduct additional research. Subsequently, they fully removed JELLYJELLY futures contracts from their platform.

随着压力的上升，Hyproliquid宣布暂停Jellyjelly交易，因为他们计划进行额外的研究。随后，他们从平台上完全删除了Jellyjelly Futures合同。

The platform announced the exchange delisting due to market irregularities, which promised repayment except to addresses that triggered alert systems. The protocol declared plans to introduce technical enhancements to prevent such occurrences from repeating.

该平台宣布了由于市场不规则性而导致的交易所推荐，除了触发警报系统的地址外，还承诺还款。该协议宣布计划引入技术增强功能，以防止此类事件重复。

The incident highlighted issues with the risk management systems at the protocol as it failed to adequately address whale manipulation alongside liquidity vulnerabilities despite its resolution efforts.

该事件强调了该协议中风险管理系统的问题，因为尽管该事件无法解决，但仍无法充分解决鲸鱼的操纵以及流动性脆弱性的解决方案。

Concerns Grow Over Hyperliquid’s Centralization

关注超流动的集中化

A whale previously manipulated Ether futures trading on the platform, leading to a total loss of $4 million from the platform. The centralization of the platform’s network has become a concern for industry observers after two recent incidents that occurred due to its validator set. While the platforms markets itself as a decentralized exchange, its limited number of validators has raised red flags regarding the platform’s susceptibility to manipulation by a small group of insiders.

一条鲸鱼先前在平台上操纵了以太期货交易，从该平台损失了400万美元。由于其验证器集引起的两起事件，平台网络的集中化已成为行业观察者的关注。尽管平台以分散的交换为推销，但其验证者数量有限，已经为该平台一小组内部人员操纵的敏感性增加了危险信号。

#Hyperliquid may be on track to become #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. Despite presenting itself as an innovative decentralized exchange with a…

#Hyperliquid可能有望成为#FTX 2.0。它处理$果冻事件的方式是不成熟的，不道德的，不专业的，引发了用户损失，并对其完整性产生了严重的怀疑。尽管以...

Bitget CEO Gracy Chen and other industry figures criticized the platform because they believe the platform’s actions will damage their reputation while souring DeFi’s trust. Several traders doubted the lasting effects because HYPE tokens demonstrated a minor market rebound following the incident.

Bitget首席执行官Gracy Chen和其他行业人物批评了该平台，因为他们认为该平台的行动会损害其声誉，同时使Defi的信任酸化。几家交易者怀疑持久的影响，因为事件发生后，炒作令牌表现出较小的市场反弹。