A dramatic 200% price surge in $XPL on the Hyperliquid exchange has resulted in whale traders reportedly securing $48 million in profits. The rapid increase has sparked allegations of market manipulation, as on-chain data reveals significant accumulation by large wallets prior to the price spike. Community members are raising concerns about the fairness of Hyperliquid's trading environment, pointing to potential exploitation of low liquidity and suspicious timing. The incident has ignited discussions about the transparency and integrity of decentralized exchanges, with many in the crypto community calling for clearer regulatory oversight. Hyperliquid has yet to release a comprehensive statement addressing the allegations, leaving traders and observers vigilant for further developments.