The General Manager of Bitget says that hyperliquid could become FTX 2.0 in the middle of a deer incident

Hyperliquid handling of the Incident Jelli token pulled out harsh criticisms from Grati Chen, the Bitget Executive Director.

After hyperliquid (Hyper) It was removed to assess the loss of $ 10.6 million and the bias of the liquidation threat to their cash register, Chen marked shares of decentralized exchange as “immature, unethical and unprofessional”.

Hyperlikuid has performed a promise token to make up for influential users. However, Chen claimed that losses were and how the situation was processed asking questions about the integrity of exchange. She criticized the DEK management team “like a stock exchange on Sashore’s shores without knowledge or money laundering.”

The Bitget Executive Director indicated that a Mail to KImaging:

“Despite the presentation of innovative decentralized exchange with a brave vision, hyperlikuid works more like an offshore CEX without KIC / AML, allowing illegal flows and bad tattles.”

As such, Chen described that hyperlicoid behavior can point out “FTX 2.0”, a rehearsal of cried Cripto Exchange FTX, which was spent in 2022. years millions of users.

Arthus Haies, founder and former General Manager of Derivati ​​Bitmek, also shared similarly getting through X.

Hyperlikuid stopped in the Jellielli market after a trader of $ 5 million, which trader was liquidated, throwing a platform in polemics in the middle of a seemingly coordinated pump scheme.

A sharp increase in deer price, stunning 230% within an hour, left the hyperlicuid liquidity pool with a loss of $ 10.6 million. The further spike would explode to over $ 240 million. Setting up a hyperliquid validator chose to destroy The token before that, stating “Suspicious Activities in the Market”.

Chen commented:

“The decision to close the $ jelly market and force positions at a good price sets a dangerous precedent. Trust – not equity – is the foundation of any exchange (CEX and DEX) and is almost impossible to recover.”

More than criticizing Delistic, Chen went to point out what she called “alarming flaws” in the design of a decision for users as a result of mixed vault and unlimited positions, which she said it opened up to manipulation.

“Unless these problems are solved,” “more Altcoin said can be detailed against hyperlicuid-putting in danger of becoming the next catastrophic failure in the cryptou.”

Earlier this month Blockckain Sleuth Zachkbt discovered If a hyperlicuid kit created huge high-speed short bets on DEKs, it was really a ciberminylan who used stolen funds.

The hype token sank double digits after the incident.