On March 27, according to data from defillama, the $JELLYJELLY Token on the Hyperliquid platform experienced a large liquidation. This led to a significant withdrawal of USDC from the platform, with a net withdrawal of up to 184 million USD in one day. The Total Value Locked of the protocol decreased from 2.217 billion USD to 2.026 billion USD.
This event demonstrates the sensitivity and vulnerability of cryptocurrency trading platforms to sudden market fluctuations, and a two-hour "survival tug-of-war" attack on Hyperliquid did not result in a victory for either side. Such incidents highlight the need for risk management and security in the cryptocurrency space. The content is not investment advice, but only provides market information.
