Hyperliquid whale still holds 10% of JELLY memecoin after $6.2M exploit

The unknown whale netted at least $6.26 million from the Hyperliquid exploit and still holds over 10% of the total supply.

A crypto whale who allegedly manipulated the prize of the Jelly my Jelly (JELLY) memecoin on decentralized exchange Hyperliquid still holds nearly $2 million worth of the token, according to blockchain analysts.

The unidentified whale made at least $6.26 million in profit by exploiting the liquidation parameters on Hyperliquid.

According to a postmortem report by blockchain intelligence firm Arkham, the whale opened three large trading positions within five minutes: two long positions worth $2.15 million and $1.9 million, and a $4.1 million short position that effectively offset the longs.

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