I just saw that Hyperliquid exploded today: A trader's $5 million JELLY short order was liquidated, and the fund pool forcefully accepted the order. Within half an hour, JELLY's price doubled, and the floating loss directly surged to $13.24 million. When I was scrolling through X, I saw someone shouting, 'This is not an accident, someone is playing tricks.' My heart skipped a beat. Hyperliquid's TVL dropped from its peak to 258 million, and HYPE tokens were in free fall, dropping 20% in a day? The community has exploded. This makes me a bit confused. Isn't Hyperliquid called a top DEX? Shouldn't the clearing mechanism protect the platform? Today, upon closer inspection, the mechanism turned into an ATM. I think someone has calculated that JELLY is currently at $0.16004, and if it is pushed back to $0.17, the 240 million assets in the fund pool may be completely depleted. On March 20th, the official also posted that they had reduced leverage and increased margin, confidently stating that there were "no loopholes". Now the patch is as sticky as paper, and attackers can easily break it with just a poke. Did you really not expect it, or did you not take it seriously at all? This is not just the responsibility of Hyperliquid, the entire DeFi community needs to look in the mirror. High leverage and automated clearing may sound cool, but once targeted by a whale, it becomes a ticking time bomb. There is a post on X saying that this may be a global trader joining forces to hunt whales, specifically targeting the capital pool. I believe it, user confidence has collapsed, TVL has shrunk, and the platform that was finally built is probably going to decline. Hyperliquid must either quickly redo its mechanism or wait to be eliminated by the market. To be honest, I'm a bit disappointed. DeFi was originally a symbol of freedom, who doesn't love the temptation of high returns? But today's play tells me that freedom comes at a cost.