Drift Theft or Force Funds Through Jupiter, On-chain Whale Liquidates $1.22M Position

On April 3rd, HyperInsight monitoring (via its Telegram channel at https://t.me/HyperInsight) reported that amid ongoing fallout from the Drift theft incident—coupled with Jupiter’s official statement that the platform was unaffected by the event—some funds may have flowed out via Jupiter. This triggered a temporary surge in trading volume, pushing JUP up 3.1% with its high briefly topping $0.16. During this period, a whale with an address starting with 0x8b0 on Hyperliquid fully closed out its JUP short position in half an hour, incurring a loss of approximately $33,700 at a liquidation price of $0.1625. The position had a notional value of $1.22 million prior to liquidation, making it the platform’s largest short-position whale.