ETH's 24-hour trading volume on Hyperliquid has surpassed BTC, reaching approximately $1.1 billion.

BlockBeats news, October 11: ETH trading volume on the Hyperliquid platform over the past 24 hours surpassed BTC's $805 million, reaching approximately $1.1 billion. Market analysis suggests that the growth in ETH trading volume is related to PaperTrade's suspected exploitation of a mechanism.

Earlier today, reports indicated that Papertrade is suspected of being exploited through price manipulation by two addresses, with obvious vulnerabilities in the protocol. Two wallet addresses actively conducted trades on Hyperliquid with a single trade size of approximately $20 million, causing ETH price fluctuations of about 10 to 20 basis points and establishing long positions with a notional value of hundreds of millions of dollars on Papertrade.