400,000 retail traders accessed Hyperliquid through third-party apps, incurring cumulative losses of $280 million, with app fees exceeding trading losses

Odaily Report: 6thManVentures investor Mike Dudas posted on X, citing Hyperdash data, stating that 400,000 retail traders who accessed Hyperliquid through third-party apps (Phantom, MetaMask, fomo, etc.) incurred cumulative losses of $280 million, with losses from app fees exceeding trading losses. Moreover, most retail traders stopped trading after incurring losses, resulting in extremely low user retention rates.