Hyperliquid ETH trades raise concerns: Was Papertrade exploited?
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Papertrade faced manipulation allegations after large ETH trades on Hyperliquid were linked to two wallets. The team then said it was tightening trading limits and restricting exposure onchain and through relayers, while not confirming claims about a trader being blacklisted or blocked from closing positions.
Key claims & sources
What it means
Papertrade’s users and counterparties are the first to notice this because the team said it is restricting exposure onchain and through relayers. That changes how trading can be handled through those channels today, and it also means claims about a trader being blacklisted or blocked from closing positions remain unconfirmed.
Before this, large ETH trades on Hyperliquid were described as part of the situation around Papertrade’s positions. Now the team says it is tightening trading limits, while the allegation itself remains about two wallets and $20 million ETH trades, not a confirmed finding about who did what.
Market reaction i
Coverage timeline
Every piece in order, with the time its news medium declares — if it is not believable we use ours and say so — and what it added to what was already known at that point. Arriving first is not the same as adding something.
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