Hyperliquid Delists JELLY Perpetual Futures Amid Suspicious Market Activity

Hyperliquid announced the delisting of perpetual futures tied to the JELLY token after identifying evidence of suspicious market activity. The exchange stated that this decision was made to protect its ecosystem and maintain market integrity. The Hyper Foundation, Hyperliquid’s nonprofit arm, has committed to automatically reimbursing most users for any losses incurred, excluding flagged addresses, based on on-chain data in the coming days. This move follows previous adjustments made by Hyperliquid, such as the increase in margin requirements after millions of dollars were lost in a massive Ether liquidation event. Despite the delisting of JELLY derivatives, the exchange’s primary liquidity pool (HLP) recorded a positive net income of around $700,000 in the past 24 hours. The incident is developing, and further details are expected as more data becomes available.