Hyperliquid’s forced market closure and off-market settlement drew legal scrutiny, with Newfound Research CEO Corey Hoffstein questioning the legality of the move, and comparisons raised to the 2022 Mango Markets exploit

Claim
News event

Description

This incident is similar to the 2022 Mango Markets exploit, where Avraham Eisenberg manipulated oracle prices to profit in derivative markets using a "highly profitable trading strategy".

Event date

Oct 20, 2022 - 10:00am

Quotes that support claims

The case draws similarities to an exploit that occurred on Mango Markets in 2022, where a trader called Avraham Eisenberg created a "highly profitable trading strategy" that involved manipulating oracle prices to secure a gain on derivative markets
Newfound Research CEO Corey Hoffstein questioned the legality of HyperLiquid's actions as social media descended into outrage

Related projects

Hyperliquid
Mango Markets

Tags

Week 43 of 2022
10/20/2022