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2025-03-28
Hyperliquid Saved Itself a $15 Million Loss, but Sparked Criticism coverart
Hyperliquid Saved Itself a $15 Million Loss, but Sparked Criticism
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About the episode

Perpetual swap DEX Hyperliquid suffered a whale attack and was on the brink of losing $15 million. It promptly responded in a way that generated a fair amount of controversy.

The founder and CEO of Ambient Finance Doug Colkitt joined the show to explain:

How perp swaps work
 How a whale used the low-liquidity memecoin $JELLY to attack Hyperliquid’s vault
 How Hyperliquid’s response broke DeFi taboos around decentralization, oracles, etc.
 Criticisms of and justifications for the team’s decisions
 What can be done to prevent similar attacks in the future

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