According to Foresight News, the former Three Arrows Capital founder Zhu Su stated that HLP (Hyperliquid liquidity provider) was attacked by JELLYJELLY, who will short the JELLYJELLY contract to the maximum extent (possibly simultaneously buying spot), pushing the spot towards on-chain self-trading, with HLP receiving JELLYJELLY's short positions. As the spot continues to rise, HLP remains in a short supply state and has suffered a loss of $6.5 million.
Zhu Su: Will short JELLYJELLY contracts to the greatest extent possible, and may also buy spot
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