Market Manipulation - A market participant manipulated $POPCAT to attack Hyperliquid [1] - The attacker burned through $3 million of their own funds [1][2] - The attack caused $4.9 million in losses for the Hyperliquidity Provider (HLP) [1][2] Attacker's Strategy - The attacker withdrew $3 million USDC from OKX [1] - The attacker split the funds across 19 wallets [1] - The attacker deposited the funds into Hyperliquid to open 125.14 million $HYPE ($26.28 million) longs [1] - The attacker placed a ~$20 million buy wall near $0.21 to create the illusion of strong demand [1] - The attacker canceled the orders, triggering a liquidity collapse that led to mass liquidations [1] Losses - HLP absorbed the positions and lost around $4.9 million [2] - The attacker's entire $3 million stake was wiped out [2]