A trader exploited Papertrade's reliance on external Ether prices and a shared liquidity pool shortly after its October 10 launch, withdrawing about $1.28 million. The trader manipulated Ether prices on Hyperliquid's spot market and used extremely high leverage positions on Papertrade, resulting in large gains from small price moves. The incident exposed flaws in Papertrade's position limits, which the platform is now tightening to prevent similar exploits. This highlights risks in new DeFi platforms relying on external price feeds and shared liquidity pools.
Papertrade's recent $1.28 million loss in an ETH price attack is context for cryptocurrency market data. For readers following crypto, here is Pluang's market snapshot as of Oct 12, 2026 09:21 WIB: 38 of 50 major cryptocurrencies rose, 10 fell. Notable movers include CRV at Rp6.613 (+4.77%), LINK at Rp240.066 (+3.23%), and XLM at Rp3.601 (+3.21%).
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