Hyperliquid Trader Placed More Than $170 Million in Suspect Brent Perpetual Futures Orders
Summary
- Decentralized exchange Hyperliquid said more than $170 million in suspect orders were placed in its Brent crude perpetual futures market.
- Market surveillance firm Solidus Labs said the order pattern suggests possible market manipulation through spoofing.
- It has not yet been determined whether the activity amounted to actual market manipulation.
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A trader on decentralized exchange Hyperliquid placed more than $170 million in suspect orders in the platform's Brent crude perpetual futures market, raising the possibility of price manipulation through spoofing.
Market surveillance firm Solidus Labs said on Oct. 28 the trader submitted more than $170 million in suspect orders in Hyperliquid's Brent perpetual futures market during a period of heightened oil-price volatility in March.
Solidus Labs said the order pattern may indicate market manipulation through spoofing. Spoofing refers to placing orders without any intention of execution in an effort to influence market prices or other traders' decisions.
It has not been determined whether the activity amounted to actual market manipulation.
JH Kim
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