News linked to both this project and an event.
Odaily reports: Hyperliquid News has disclosed that ETH's trading volume over the past 24 hours has surpassed BTC, reaching approximately $1.1 billion. Analysts suggest that this increase in ETH trading volume may be related to a recent incident in which PaperTrade was allegedly exploited through its mechanism, and the associated trading activity may have driven up demand for ETH in the market.Community user boblob previously disclosed that two wallets were suspected of actively "attacking" the PaperTrade platform, using trades worth approximately $20 million to briefly trigger a small fluctuation in ETH price on the Hyperliquid platform (about 10-20 basis points), and established a "9-figure" long position on PaperTrade. boblob further added that there are clear issues with the current protocol that need to be fixed as soon as possible, otherwise it could affect the protocol's long-term sustainability.Crypto trader Rune pointed out that PaperTrade's official documentation has in fact already disclosed that its pricing mechanism carries an "attack" risk, noting that the main risk at the protocol level lies in the use of Hyperliquid's order book BBO (Best Bid and Offer) for price manipulation. This risk involves unresolved price manipulation pathways, contract economic mechanisms and risk exposure control, as well as operational-level protective measures and permission management mechanisms.
Odaily reports: Crypto trader Rune stated on X platform that PaperTrade's official documentation has actually disclosed a "vulnerability" risk in the protocol-level pricing mechanism. According to the document screenshots he shared, attackers can exploit the BBO (Best Bid and Offer) of the Hyperliquid order book for price manipulation. This risk involves unresolved price manipulation paths, contract economic mechanisms and risk exposure controls, as well as operational-level protective measures and permission management mechanisms.Additionally, Rune retweeted a post by community user boblob, which revealed that two wallets were suspected of actively exploiting and "attacking" the PaperTrade platform, conducting trades worth approximately $20 million that briefly caused ETH price fluctuations of about 10-20 basis points on the Hyperliquid platform. boblob further added that the obvious issues currently present in the PaperTrade protocol need to be fixed as soon as possible, otherwise they may affect the protocol's long-term sustainability.