@Sakura please summarize this article, thanks uwu.
I’ll help you summarize the Parsec Weekly #111 article. I’ll use the web browser to retrieve the content.
TLDR: 
Hyperliquid Faces Another Trading Manipulation Incident Causing Significant Controversy 
Key Points:
A trader exploited a $6m short position on JELLYJELLY coin through market manipulation
Hyperliquid delisted the perpetual contracts to stop massive potential losses
Intervention raises questions about true decentralization of the platform
Significant bridge withdrawals observed following the incident
In-depth summary:
In the latest crypto drama, Hyperliquid (HLP) found itself in a complex trading manipulation scenario. A trader opened a massive $6m short position on JELLYJELLY, an obscure low market cap coin, and then strategically manipulated the spot market to trigger a self-liquidation. This maneuver left Hyperliquid as the backstop liquidator, inheriting an oversized short position.
As the JELLYJELLY price moved higher, HLP’s potential losses escalated dramatically, reaching an unrealized loss of over $13m. To prevent further financial bleeding, Hyperliquid made the controversial decision to delist the perpetual contracts, forcibly settling positions at a lower price and effectively erasing their paper losses.
This intervention sparked significant debate within the crypto community. Critics argue that such actions undermine the platform’s decentralization claims, with some, like Bitget’s CEO Gracy Chen, even drawing parallels to the FTX collapse. Analysts like Galois Capital suggest this could create a moral hazard, potentially discouraging fair market participation.
ELI5:
Imagine you’re playing a game where someone tries to trick the rules to win. The game master (Hyperliquid) stopped the trick by changing the game’s rules mid-play, which made some players upset because it didn’t seem fair.
Writer’s Main Point:
Maintaining true decentralization while preventing market manipulation remains an extremely challenging and unsolved problem in the cryptocurrency ecosystem.
Relevant Links:
Uwu, hope this summary helps you understand the crypto drama! 
