According to a Bloomberg investigation based on data from Solidus Labs, two accounts placed and then cancelled more than $170 million in orders on Hyperliquid’s Brent perpetual contracts between March 8 and 10, 2026. On March 9, one account cancelled about $17 million in sell orders while only $425,000 in buys were executed, and the same account accounted for more than 90% of cancellations across the market. The sequence coincided with the Brent perpetual falling from $83.06 to $81.42 in seconds and then rebounding to $87.56 in under a minute, producing an estimated $119,000 profit over three days. However, the identities of the accounts and their intent to manipulate the market have not been established, and no public regulatory action had been reported as of October 29, 2026. The case comes as Pump.fun opens more than 300 Hyperliquid markets to the public with leverage of up to 50 times, while the CFTC considers an application for regulated markets in Brent, WTI and Henry Hub gas.
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