Hyperliquid Official: Validators Vote to Take Down JELLY, User Losses Will Be Covered by Hyper Foundation

Hyperliquid's official post to the Discord community says: ‘After the discovery of suspicious market activity, the validators quickly gathered and voted to take down JELLY, and all user losses, except for flagged addresses, will be deducted from the Hyper Foundation's corresponding funds. This will be done automatically over the next few days based on on-chain data. There is no need to open a ballot. The methodology will be shared in detail in a later announcement. As with other chains, validators typically need to convene as a group to take decisive action to ensure the integrity of the network. Improving the robustness and transparency of the voting system is a top priority. Please note that as of this writing, HLP's 24-hour profit/loss is around 700,000 USDC. technical improvements will follow and lessons will be learnt by officials to strengthen the eco-network. More details will be shared soon.’