BTX Capital, along with its founder Vanessa Cao, is under scrutiny for allegedly manipulating token prices on Hyperliquid. A fraudulent buy order wall of 25 million USD was placed to create false demand for tokens such as POPCAT and TST.
This manipulation resulted in substantial losses amounting to 4 million USD for the manipulators and 4.9 million USD for HLP. Further investigations indicate that similar tactics may have been employed on other tokens like ZEREBRO and JELLYJELLY.
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