Whale Traders Profit $47M Manipulating XPL on Hyperliquid
The post Whale Traders Profit $47M Manipulating XPL on Hyperliquid appeared on BitcoinEthereumNews.com.
Key Points: Whale traders manipulated XPL token price on Hyperliquid. $47 million profit for manipulators in a few minutes. Market conditions highlight need for regulatory measures. On August 27, 2025, four whale addresses manipulated the XPL token price on Hyperliquid, yielding $47.67 million in profits while causing multimillion-dollar losses for several traders. The incident highlights vulnerabilities in DeFi markets, sparking calls for stricter controls on leverage and anti-manipulation measures. Coordinated Whale Attacks Net $47 Million in Minutes The whale addresses entailed 0xb9c, 0xe41, 0x006, and 0x894. They strategically manipulated the XPL token market on the Hyperliquid platform. The primary coordinator, 0xb9c, secured $15.11 million alone. The addresses, working in concert, executed massive leveraged transactions, resulting in compelled liquidations for other traders. Victims like address 0xC2Cb incurred losses totaling $4.59 million. XPL traded from $0.40 to $1.80 in minutes, sparking dialogue on the necessity for improved regulatory scrutiny. Public commentary from on-chain analysts highlights vulnerabilities in existing systems. Notably, analyst [@lookonchain] called attention to a whale’s USDC deposit correlating with this profit surge. Despite the financial upheaval, no official comment has been released from Hyperliquid’s management or regulatory bodies. A whale moved 16M USDC to Hyperliquid, pumped XPL to $1.8, and closed for $14M profit in under an hour. DeFi Platforms Urged to Prevent Token Manipulation Did you know? In a similar incident with JELLY tokens, Hyperliquid saw $12 million in losses, showing a recurring pattern of manipulation in leveraged markets. These incidents underscore perpetual contract risks in DeFi. According to CoinMarketCap data, Plasma (XPL) currently trades at $0.51, with no circulating supply or established market cap. Trading volume surged over 293% in 24 hours. Despite its market dominance being inconsequential, XPL reported over 212% growth over the past week. Plasma(XPL), daily chart, screenshot on CoinMarketCap at 06:35 UTC on August…
