About 13 hours ago, someone withdrew $3M USDC from OKX and split it across 19 wallets. Around 14:45 CET, he started longing millions worth of POPCAT, placing roughly $20M worth of buy orders at $0.21. The combined long position grew to around $30M across those 19 wallets. When he removed the 8 figs buy wall, he got liquidated on the entire $20M-$30M popcat long within seconds, causing HLP to take over the position. POPCAT then dumped further, resulting in a $4.9M loss for HLP. Hyperliquid later manually closed the position. Wallets: 0x612c3b26a1b01c3e50a91d7e1eb6ed0929cdd50f 0xb0281f80815b4e11da25d94e83eda0800b1c5765 0x2a22a55f34fa56c0065ad7af58bcc88d9b39b020 0x34e44ab9b64883c755ae075768a63702d3076fb1 0x19ea35089d5e11adc83608c9d35922f2bb8f85ea 0x049ad92bfacc446d2d2e1c3a6a06df9cefad80bb 0xc02d36ef51be98287b921965385e3d0d2f074d97 0xf576d94e6a620fed39cc86eed7cb133b249e1805 0x972691c21f16370bbd60e47cccb7d83e162587f2 0xa5748e571e6985edd9e657988ecb59bf8d4fe827 0x88f77bd33c12206aff364f347607315386ba713d 0x0767d84e423bf86dbc755eeda6b1ea6cee3f834a 0x5b3eec9baf85d37249ecdfdf458ce5f4b1e1ad55 0xc2350a8b2059796f2d5f38adca2571899103305 0xb5b5f6b75b770d4c5a815ff259672a22c2058227 0x4f6b4cd5133cfda7351c55a10f1376d4c965320a 0xe7f47c2679c02ce11436a040a6164385a66e6b87 0xc6e5be0973c9d89ed15522c949f111b0889e5338 0xa19d942e01df8a38b251297f755d5326931130ea This was clearly a deliberate attempt to mess with HLP /Hyperliquid. No one loses $3M in seconds just by being stupid or careless. The Arbitrum bridge is temporarily paused, but other deposits and withdrawals are unaffected. The issue should be resolved soon.

crypto has warped our (or my, to be exact) sense of money. this conclusion comes from a random talk with my friend, when i was joking on a recent loss. we were saying that $2000 is A LOT of money/buying power by the absolute sense. it basically equals a new iphone, weeks of decent meals, or a luxury wallet. but in this space, it’s just my “yesterday’s pnl swing on a random token.” most of us are having virtual income, trading virtual assets, and experiencing just-number losses by a clicking on screen. all of these, making me nearly forget that numbers are real money. living in Japan, I pay in cash, QR code and credit cards. cash always feels real, i'm handing over physical bills stings. qr code is abstract, i only give glimpses over the numbers when paying. credit card, in this case, is the worst: usd-denominated payments make ¥10000 meals look like “just 60 bucks.” don't take this easy. this disconnect messes with our trading behaviors. we downplay real losses bc it's "just xx bucks". we re-enter too fast. we cut too easily. we forget: losing $2000 isn’t just “a red day” — it’s losing a new iphone in 24 hours. rebuilding a grounded sense of value might be the most underrated trading edge, that's my take for this talk.