The crypto community was just recovering from the aftermath of the Bybit hack, which saw North Korean hackers loot $1.3B from the exchange\u2019s cold storage, and now we\u2019ve had yet another sensational malicious activity.<\/p>\n
This time it\u2019s Hyperliquid in the firing line. Read on to find out exactly what went down and how a privacy-first crypto project like Best Wallet Token ($BEST)<\/a> could potentially 100x as a result?<\/p>\n The popular decentralized crypto exchange<\/a> Hyperliquid recently delisted the Jelly-my-Jelly ($JELLY) meme coin on the grounds of suspicious trading activity<\/p>\n $JELLY, by the way, fell from $0.21 all the way to $0.01 in just 10 days after its launch on January 30. However, it skyrocketed 400% on March 26, which is when chaos unfolded.<\/p>\n Here\u2019s what happened prior to $JELLY\u2019s delisting by Hyperliquid last week:<\/p>\n A large crypto whale deposited $7M across three Hyperliquid accounts. All in all, the trader deposited a total of $7.17M but was only able to withdraw $6.26M. Around $900K still remains with Hyperliquid.<\/p>\n Big-name crypto personalities, such as the CEO and COO of Bitget, criticized Hyperliquid, saying that the exchange deliberately caused losses to the user.<\/p>\n One of them even said that Hyperliquid \u2018may be on track to become FTX 2.0.\u2019<\/p>\n Although the world is torn between Hyperliquid\u2019s recent debacle, the fact remains that there\u2019s a dire need for a reliable crypto storage and management solution. Enter Best Wallet<\/a>.<\/p>\n Best Wallet is a new-age crypto wallet<\/a> that\u2019s helping users reclaim their privacy. For starters, it\u2019s a non-custodial wallet, meaning you alone have the ownership of your private keys. Therefore, none apart from you will be able to access your crypto assets.<\/p>\n The app also comes with Fireblock\u2019s MPC-CMP wallet technology, which uses cutting-edge cryptographic techniques to safeguard your digital wealth.<\/p>\n\n We were also impressed to find out that fantastic in-app and crypto-related security is complemented by excellent app access controls.<\/p>\n Thanks to a plethora of 2FA\/MFA options, which include biometrics, you don\u2019t have to worry about the unfortunate scenario of your mobile ending up in the wrong hands.<\/p>\n The good news keeps coming, as Best Wallet also offers its users third-party insurance for all their crypto assets stored with Best Wallet. This is a brilliant offering and one you should definitely opt for, especially at a time when hacks and scams are as prevalent as they are.<\/p>\n In addition to rock-solid security, Best Wallet also hits it out of the park when it comes to being user-friendly. It has sleek apps for both Android and iOS \u2013 and a browser extension for desktop is on its way.<\/p>\n Last but not least, Best Wallet is also a joy for smart crypto investors who like getting in before the coins are listed on exchanges. That\u2019s because Best Wallet is the only crypto wallet that allows its users to invest in new meme coins on presale<\/a> directly from within the app.<\/p>\n Apart from the above, Best Wallet\u2019s roadmap suggests that it\u2019s soon going to offer support for over 60 chains. This would then make it a one-stop solution for managing all your crypto assets.<\/p>\n If you want to be a part of Best Wallet\u2019s remarkable growth story, consider investing in Best Wallet Token ($BEST)<\/a> \u2013 the native cryptocurrency of Best Wallet and one of the best cryptos to buy now<\/a>.<\/p>\n Owning $BEST won\u2019t just allow you to ride Best Wallet\u2019s market takeover \u2013 it plans to capture over 40% of the non-custodial crypto wallet market by 2026 \u2013 but it also comes with its own special perks.<\/p>\n\n First and foremost, $BEST investors will have to pay lower transaction fees on Best Wallet.<\/p>\n Second, they\u2019ll get priority access to the best crypto presales<\/a>. This way, they\u2019ll be able to become early investors (which means more profits) in some of the best projects going around.<\/p>\n Third, $BEST investors will have the opportunity to earn extra income through staking. The current rewards rate is 136%. However, it\u2019s worth noting that this rate is dynamic and will likely reduce as the $BEST presale proceeds.<\/p>\n Speaking of the Best Wallet Token presale<\/a>, it has so far raised over $11.4M, and you can buy each token for just $0.024525 if you get in now.<\/p>\n If this is your first presale purchase, here\u2019s a detailed guide on how to buy $BEST<\/a>. Also, check out our Best Wallet Token price prediction<\/a> for more details on the crypto\u2019s future.<\/p>\n Best Wallet\u2019s potential aside, do note that the crypto market is unpredictable. It\u2019s rife with volatility, which is why you must only invest an amount that\u2019s small enough for you.<\/p>\n As always, we urge our readers to do their own research. This article isn\u2019t a substitute for financial advice, after all.<\/p>","protected":false},"excerpt":{"rendered":" The crypto community was just recovering from the aftermath of the Bybit hack, which saw North Korean hackers loot $1.3B from the exchange\u2019s cold storage, and now we\u2019ve had yet another sensational malicious activity. This time it\u2019s Hyperliquid in the firing line. Read on to find out exactly what went down and how a privacy-first […]<\/p>\n","protected":false},"author":0,"featured_media":55526,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-55525","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/55525"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=55525"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/55525\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/55526"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=55525"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=55525"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=55525"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Dissecting the Hyperliquid-Jelly Meltdown<\/h2>\n
\nTwo of those accounts took long positions on $JELLY \u2013 one of $2.15M another another of $1.9M respectively.
\nThe third account took a $4.1M short position in order to cancel out the two long trades above.
\nAs $JELLY\u2019s price rose from $0.01 to nearly $0.45 in a matter of just hours, the short position was liquidated. But the catch is that it was too large a position to be liquidated normally.
\nAs a result, the short trade was sent to the Hyperliquidity Provider Vault (HLP) for settlement.
\nHowever, when Hyperliquid restricted the whale\u2019s withdrawals, they resorted to selling their remaining $JELLY positions.
\nThis led to Hyperliquid shutting down the $JELLY market entirely.<\/p>\nHyperliquid\u2019s Criticism<\/h2>\n
What Is Best Wallet?<\/h2>\n
Buy $BEST \u2013 The Next Crypto to Explode<\/h2>\n