1 entry
Papertrade Price-Feed Manipulation
Trader Nets $1.28M on New 1,000x Exchange Papertrade by Moving the Prices It Borrows from Hyperliquid
The Block reports a trader netted about $1.28 million on Papertrade, a new exchange offering 1,000x leverage. Papertrade copies its prices from Hyperliquid’s order book, and the trader simply moved that order book — buying and selling large amounts of ETH on Hyperliquid itself. Papertrade said its launch trading limits were too loose and is tightening them.
14 sources
- Trader nets over $1M on Papertrade’s launch, then loses $450K · cryptobriefing.com · T2
- Aggressive inflows into Papertrade’s 1000x leverage trading: Over 75% of traders have been liquidated, with total liquidation volume exceeding $20 million. · lookonchain.com · T2
- Papertrade responds to allegations of price manipulation and protocol vulnerabilities: The issue arises from loose position limits during its initial launch phase, and parameters have already begun to be tightened. · lookonchain.com · T2
- Analysis: Papertrade did not adopt Hyperliquid’s official oracle pricing mechanism, enabling a trader to manipulate the system and earn $1.28 million in profits. · lookonchain.com · T2
- Papertrade Tightens OI Caps After BBO Manipulation Attempts · defiprime.com · T2
- Viewpoint: Papertrade Suspected of Being Exploited for Price Manipulation by Two Addresses, Protocol Has Obvious Vulnerabilities · lookonchain.com · T2
- PaperTrade responds to fairness and manipulation concerns: queue mechanism ensures fairness, some users manipulating BBO could not sustain profits · panewslab.com · T2
- A crypto whale traded with 1000x leverage on Papertrade, racking up cumulative losses of roughly $1 million. · lookonchain.com · T2
- The popularity of paper trading has begun to wane, with open interest in contracts dropping to $1.3 billion, a roughly 60% decrease over 12 hours. · lookonchain.com · T2
- Papertrade Says It Is Tightening Trading Limits After Manipulation Allegations · thedefiant.io · T2
- Trader nets $1.28 million on new 1,000x exchange Papertrade by moving Hyperliquid’s ETH prices · theblock.co · T1
- Papertrade Exploit Claims Follow $20M ETH Trades on Hyperliquid · blockonomi.com · T2
- 以太坊24小时交易量反超比特币，市场猜测与PaperTrade有关 · panewslab.com · T2
- Trader Rune: PaperTrade official docs already disclose BBO price manipulation exploit risk · panewslab.com · T2