Scan to Download Gate App
qrCode
More Download Options
Don't remind me again today

BTX Capital is accused of manipulating cryptocurrency prices.

robot
Abstract generation in progress

On-chain analysis shows that BTX Capital and founder Vanessa Cao are suspected of manipulating token prices on Hyperliquid through a coordinated “buy wall” strategy, causing significant losses on November 12. The incident highlights the vulnerabilities of the decentralized exchange, affecting trader confidence and drawing attention from regulators.

Investigations show that BTX Capital is involved in manipulating the prices of POPCAT and TST, with multiple wallets directly connected to Cao. The large flow of funds and activities between the wallets indicate clear coordination.

The manipulation event on November 12 led to the forced liquidation of POPCAT, causing losses of approximately 4 million USD for the attacking group and 4.9 million USD for Hyperliquid. Expert Specter noted that 26 wallets coordinated using a buy wall strategy, along with multisig transactions and shorts on centralized exchanges, indicating large-scale manipulation activities affecting many other tokens.

POPCAT-9.11%
TST8.91%
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
0/400
No comments
  • Pin
Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate App
Community
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)