Exchanges· ★★★· bearish·

Trader nets $1.28 million on 1,000x exchange Papertrade by moving Hyperliquid's ETH prices

  • —Trader earned $1.28 million on Papertrade by moving ETH prices from Hyperliquid
  • —The same wallet lost $450,000 as 30 short positions were liquidated
  • —Positions stayed open for over three hours before Saturday night's liquidation
Why it matters: The incident adds to accusations that Papertrade's pricing is manipulable, raising doubts about oracle reliability on the 1,000x exchange.
#ETH
Source: The Block
More on this
Exchanges · yesterday
Papertrade traders lose $18.6 million while stakers collect $12.57 million in rewards
 DeFi · yesterday
Trader Rune: PaperTrade docs disclose BBO price manipulation risk at protocol level
 Markets · Oct 4
Hyperliquid's Most Profitable Traders Turn Net-Short by $60M