FOGO surges 550% on Hyperliquid, a new address earns about $500,000 in half an hour

BlockBeats News, December 25, according to MLM monitoring, on Hyperliquid, as FOGO surged 550% within 15 minutes, FOGO short positions (pre-market) worth about $1.49 million were just liquidated in a concentrated manner.

This round of chain liquidations also triggered an automatic deleveraging (ADL) for a long wallet, locking in about $500,000 in profit in less than 30 minutes. Notably, this wallet had only established its long position via TWAP about 7 hours ago, and it used a newly created wallet address.
Address link: https://hypurrscan.io/address/0xb2f42334fffc3947b4c79c7e3dc3d387d391f148

The largest single liquidation came from a wallet that continued to short FOGO during the short squeeze (essentially "pouring fuel on the fire"). The independent short position of this wallet was force-liquidated by the system within 10 minutes, resulting in a loss of about $100,000 USDC margin on a position with a notional value of $224,000.
Address link: https://hypurrscan.io/address/0x4013eb7da81902a556146861dc50e9c0f515238d