Peaked at #3 Now #4
Papertrade Launch Controversy and Exploit
User says Paper Trade is being exploited by two wallets moving ETH 10-20bps on Hyperliquid with ~$20M clips and trading 9-figure longs on paper.
Key points
- @Dr_bobo54 says Paper trade (@papertrade_xyz) is being actively exploited by two wallets moving ETH 10-20bps on hyperliquid using $20m clips or so and trading 9 fig longs on paper.
- @papertrade_xyz says it has flipped the NASDAQ's daily notional traded volume and has reached out to @NasdaqExchange to discuss the potential implementation of 1000x leverage.
- @DidiTrading says 99% of users cannot open a position, the 1% who can are $899M net long, and $PAPER rewards do not cover minting cost.
Key points and the reaction summary are written by AI from the posts on this page. Check the original post. How we use AI
Original post
What others are saying
2 moreTop replies on X
Reaction on X: Replies largely dispute the 'exploit' framing, calling it a design flaw instead, and joke that the pool will be drained in a day and the protocol will die; one notes the name 'paper' was at least honest.
Sign in to see 5 top replies from X
From @0xLoris, @thecryptomayne, @fro_kwon and others. Spam removed, with English and Chinese translations.
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