Hyperliquid's network effect is becoming a playground for low-tier scammers looking to build clout and eventually rug their followers. The sad part? People keep falling for it.

This pattern isn't new—we saw it during the presale craze, and it'll keep happening as long as we lack a real reputation layer in crypto.

The problem is straightforward: without on-chain reputation mechanisms, it's trivial for bad actors to create fresh personas, gain traction through a platform's momentum, then disappear with their audience's funds. Each cycle repeats because the barrier to entry for scammers remains zero.

Until the ecosystem develops genuine, verifiable reputation infrastructure, expect this to persist. The network effect that makes platforms useful also makes them efficient vectors for fraud.