Papertrade Exploit Claims Follow $20M ETH Trades on Hyperliquid

TLDR: Papertrade exploit allegations involve two wallets’ reported $20 million Hyperliquid orders, 10–20 basis points of ETH movement, and much larger Papertrade longs. Papertrade uses Hyperliquid’s best bid and offer midpoint for synthetic fills, creating a documented price-reference risk that remains an allegation in this case. Hyperliquid uses separate oracle and mark prices for its [...]

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