According to CoinMeta, as reported by GoPlusSecurity, the Hyperevm perp exchange encountered a oracle manipulation attack about 8 hours after its launch on October 10, 2026, resulting in losses of approximately $1.28 million. This incident involved cross-market oracle and quote manipulation. The attackers first opened extremely large synthetic long and short positions on papertrade, and then used real capital to buy and sell Ethereum on Hyperliquid, temporarily distorting the best buy and sell quotes (BBO) on Hyperliquid. This distorted mid-price was subsequently used for execution and profit and loss calculations on papertrade.