Lookonchain APP

App Store

An address is suspected of "price manipulation" on Hyperliquid, causing the POPCAT price to plummet, resulting in a $4.9 million loss for HLP.

2025.11.13 09:08:27

On November 13th, as per MLM Monitor, yesterday, an individual withdrew 3 million USDC from OKX and distributed it to 19 wallets. Around 14:45 CET, they began to go long for millions of dollars' worth of POPCAT by placing buy orders of approximately $20 million at a price of $0.21. The total long position of these 19 wallets rose to around $30 million. When they removed this 8-digit buy wall, within seconds, the $20 - 30 million long position in POPCAT was liquidated and HLP took over the position. Subsequently, POPCAT continued to decline, causing HLP to lose $4.9 million. Hyperliquid later manually closed out this position. MLM analysis indicates, "This was clearly a deliberate act with the intention of bringing down HLP/Hyperliquid. No one would lose 3 million in seconds just due to stupidity or carelessness. As a result, the Arbitrum bridge was temporarily paused, but other deposit and withdrawal operations remain unaffected. The issue is expected to be resolved soon."
Relevant content

Binance has completed the integration of Momentum (MMT) onto the BEP20 network and opened its deposits and withdrawals.

According to an official announcement, Binance has completed the integration of Momentum (MMT) on the BNB Smart Chain (BEP20) network and now supports deposit and withdrawal services.

3 minutes ago

Korea Exchange will launch after-hours trading service for ETFs.

Korea Exchange will officially launch after-hours trading for Exchange-Traded Funds (ETFs) on September 14. The exchange aims to compete with alternative trading system Nextrade and all-day cryptocurrency exchanges. Asset management firms have warned that the lack of real-time net asset value (NAV) estimates could widen ETF price deviations; the industry had previously called on Korea Exchange to delay the service’s launch. Single-stock leveraged ETFs will not be included in the eligible securities for after-hours trading. (Jin10)

3 minutes ago

Spot gold rose 0.94% intraday. Spot silver’s intraday gain expanded to 2%.

Bitget market data shows spot gold has climbed above $4,280 per ounce, gaining 0.94% intraday. Spot silver’s daily rise has expanded to 2%, currently trading at $62.76 per ounce.

3 minutes ago

Binance Wallet updates the bStocks Alpha trading volume reward mechanism: Certain assets are eligible for 4x rewards on designated trading days.

According to an official announcement, bStocks’ 4x Alpha trading volume reward mechanism will be adjusted starting at 00:00 UTC on August 8, 2026. Post-adjustment, trades of designated bStocks will earn 4x Alpha trading volume rewards from 00:00 UTC Monday to 23:59 UTC Friday, while trades of other bStocks will receive 1x rewards. From 00:00 UTC Saturday to 23:59 UTC Sunday, all bStocks trades will be eligible for a uniform 1x Alpha trading volume reward. The 1x/4x reward labels displayed for each bStock will be updated per the above UTC schedule. Users are advised to refer to these displayed labels before trading, as final Alpha trading volume is subject to system records.

3 minutes ago

Moscow Exchange plans to launch a digital asset custody system, which is expected to go live by the end of 2026 or early 2027.

Moscow Exchange (MOEX) is preparing to launch a digital custody system (digital depository platform) for crypto assets, a plan confirmed by multiple brokerage industry sources and individuals close to the exchange. The system will not be built on MOEX’s existing architecture, nor will it be integrated with Russia’s National Settlement Depository (NSD), but will operate as an independent infrastructure. The specific model is still under discussion, and Russia’s legal crypto market may eventually form multiple digital asset liquidity hubs, including Moscow Exchange and platforms operated by large financial institutions. Sources said the digital custody system is expected to launch by the end of 2026 or early 2027. Earlier, several major Russian banks—including Sber, VTB, T-Bank, and Alfa-Bank—also announced plans to build digital asset custody infrastructure. Under the plan, each brokerage client will hold an anonymous account in the digital custody system, essentially equivalent to an on-chain wallet address used to track investors’ crypto assets. Some market participants plan to conduct crypto trading exclusively through their own custody systems, while others are considering a hybrid model: trading on exchanges, with digital custody handled by banks or brokerages.

3 minutes ago

Morgan Stanley’s spot Bitcoin ETF MSBT has total holdings worth over $400 million.

According to the latest monitoring data from Arkham, Morgan Stanley’s spot Bitcoin ETF MSBT spent $7.21 million to add roughly 100.3 BTC to its holdings. As of now, its total Bitcoin position has crossed 6,300 for the first time, reaching 6,331 BTC valued at more than $406 million.

3 minutes ago