A review by Quote Markets team member filo, cited by BlockBeats, said 16 associated wallets withdrew about $2.04 million in margin before an XPL plunge on Hyperliquid. The review said the HLP liquidation vault later absorbed about 160 million XPL and lost roughly $555,800 during the subsequent selling.
What the review reported
The report said 12 wallets completed 20 withdrawals between 04:24 and 04:32 UTC, totaling about $2.0386 million, while seven additional withdrawals were rejected for insufficient balances. Hyperliquid then triggered the first related liquidation at 04:32:43 UTC.
Limits on attribution
The review said public on-chain data cannot establish whether the wallets directly caused the XPL decline, identify the actual sellers or show whether any off-platform hedges were profitable. The figures cover Hyperliquid and Arbitrum activity described in the review.
Source: BlockBeats English flash; the cited review was published by filo of Quote Markets at this X post, published Nov. 2, 2026.