Hyperliquid sees unusual oil derivatives trades, suspected spoofing to manipulate oil prices

According to TechFlow, on October 29, Bloomberg reported that during intense volatility in international oil prices in early March, a trader allegedly used two accounts to influence prices on decentralized derivatives platform Hyperliquid through oil-related crypto derivatives. According to analysis provided by blockchain monitoring firm Solidus Labs to Bloomberg, the trader placed over $170 million in unusual orders, and Solidus believes the behavior constitutes suspected spoofing-style price manipulation.

Source: TechFlow