According to @lookonchain, an attacker withdrew 3M USDC from OKX, split the funds across 19 wallets, deposited them into Hyperliquid, and opened 125.14M HYPE longs valued at $26.28M (source: @lookonchain). According to @lookonchain, the attacker then placed an approximately $20M buy wall near $0.21, canceled the orders, and triggered a liquidity collapse that caused mass liquidations (source: @lookonchain). According to @lookonchain, the Hyperliquidity Provider (HLP) absorbed the positions and lost around $4.9M, while the attacker’s entire $3M stake was wiped out (source: @lookonchain). According to @lookonchain, the tactic involved manipulating POPCAT to attack Hyperliquid, resulting in significant venue-side losses (source: @lookonchain).