Hyperliquid market-making pool loses $1.5M in 24 hours from attack

The Hyperliquid Market-making Pool (HLP) has lost approximately $1.5 million over the past 24 hours due to an attack involving Fartcoin. According to PeckShield, the attacker opened a $15 million long position in Fartcoin across four wallets and then intentionally triggered a liquidation in a low-liquidity environment. This activated the platform's auto-deleveraging (ADL) mechanism, forcing HLP to absorb the resulting bad debt. PeckShield noted that while the on-book loss is $3 million, the attacker likely secured significant profits by hedging with an opposing position on other exchanges.