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Category: CRYPTO NEWS
The post HyperLiquid Faces Criticism Amid Recovery Efforts Post-JELLY Incident and HYPE Token Stabilization appeared on BitcoinEthereumNews.com. HyperLiquid is responding swiftly to the JELLY crisis, implementing refunds for affected traders while enhancing security protocols to safeguard the platform. Despite a significant price drop following the incident, HyperLiquid’s HYPE token is showing signs of stabilization today, reflecting a slight recovery in community confidence. However, criticisms continue to arise about HyperLiquid’s rapid reaction to non-criminal activities, with concerns over its previous inaction regarding potential North Korean hacks. HyperLiquid takes action after the JELLY squeeze, refunding traders and enhancing security. HYPE token stabilizes as community concerns mount over intervention policies. HyperLiquid’s Proactive Measures Following the JELLY Incident In the wake of the JELLY incident, HyperLiquid has been proactive in addressing the fallout. The firm, which operates as a decentralized exchange (DEX), faced a significant threat when the JELLY token was almost responsible for a staggering $230 million loss. Reacting quickly to the situation, the company issued a statement asserting its commitment to user safety, outlining plans for refunds for traders caught in the JELLY squeeze. “All JELLY traders will be settled at a price advantageous to them, except flagged addresses,” HyperLiquid conveyed, underlining its focus on community protection. To prevent similar future occurrences, HyperLiquid announced new security measures, including stricter protocols for token delistings and implementing open interest caps. These actions aim to tighten oversight and minimize risks associated with highly volatile assets. Additionally, noteworthy changes to the liquidation process have been introduced, establishing multiple guardrails to anticipate and mitigate potential market disturbances. While it remains to be seen if these precautions are sufficient, the recent stabilization of HYPE suggests some restoration of trust within the user community after yesterday’s tumult. Restoring Trust: Can HyperLiquid Overcome Community Skepticism? Despite HyperLiquid’s efforts to manage the crisis, questions linger about its adherence to decentralized principles. The exchange’s decision to delist JELLY and…
2025-03-28T03:40:48+00:00