Hyperliquid Delists $JELLY: $900K Loss Impact

Hyperliquid Delists $JELLY, Potentially Causing $900K in Losses

• Hyperliquid delisted Jelly-my-Jelly ($JELLY) due to suspicious trading activity.
• $JELLY’s price plummeted from $0.21 to $0.01 within 10 days of its launch on January 30.
• A crypto whale deposited $7M across three Hyperliquid accounts, taking both long and short positions on $JELLY.
• The whale was able to withdraw only $6.26M, leaving approximately $900K with Hyperliquid.
• Critics compared Hyperliquid’s actions to those of FTX, suggesting potential deliberate user losses.

The delisting of $JELLY by Hyperliquid resulted in a significant financial discrepancy for a trader, who managed to withdraw only part of their initial deposit, leaving around $900K with the exchange. This incident has drawn criticism from notable figures in the crypto community.