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. 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.