Hyperliquid trader’s $170M oil orders raise spoofing concerns

Solidus Labs has flagged more than $170 million in suspicious oil-linked perpetual orders on Hyperliquid during March’s energy-market volatility. Summary Solidus reportedly identified two accounts placing suspicious orders during three days of volatile oil trading. Brent crude contracts accounted for most of the activity, with WTI and natural gas involved. Hyperliquid Labs pointed to public blockchain records in its response to the reported findings. Lookonchain said the activity involved two accounts between March 8 and 10, with large orders repeatedly canceled while trades were completed on the opposite side of the order book. Hyperliquid oil orders involved repeated cancellations In Lookonchain’s account, Solidus estimated the trader’s three-day profit at roughly $119,000, with canceled order value around 30 times the value of opposite-side executions. One March 9 example involved approximately $17 million in canceled sell orders alongside $425,000 in completed purchases, the summary said. Solidus described spoofing characteristics, although intent remained unconfirmed. Hyperliquid Labs responded that orders, cancellations and transactions are publicly recorded onchain for revie...