Decentralized exchanges gain ground despite $6M Hyperliquid exploit

Decentralized exchanges like Hyperliquid continue cutting into the market share of their centralized rivals.

Decentralized cryptocurrency exchanges (DEXs) continue to challenge the dominance of centralized platforms, even as a recent $6.2 million exploit on Hyperliquid highlights risks in DEX infrastructure.

A cryptocurrency whale made at least $6.26 million profit on the Jelly my Jelly (JELLY) memecoin by exploiting the liquidation parameters on Hyperliquid, Cointelegraph reported on March 27. 

The exploit was the second major incident on the platform in March, noted CoinGecko co-founder Bobby Ong.

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