Trade.xyz Covers Losses for SK Hynix Traders Hit by Price Anomaly

Trade.xyz has announced that it will cover eligible liquidation losses for traders affected by a price anomaly in its SK Hynix perpetual contract on Hyperliquid.

The anomaly occurred when the mark price of the contract fell from $1,127.90 to $917.25 at 23:01 UTC on Monday after an executed trade was relayed by multiple independent data providers.

Trade.xyz stated that its oracle had 'worked as intended according to its specification' but acknowledged traders' frustration and described the reimbursement as a 'one-time discretionary decision,' adding that it would review how prices are formed during extreme market events.