Trade.xyz Takes Responsibility for Hyperliquid Anomaly, Offers Reimbursement
Trade.xyz has announced that it will cover losses from the liquidation anomaly on Hyperliquid following the sudden collapse of its SK Hynix perpetual contract on July 27. The incident affected nearly 1,000 leveraged positions, causing about $57 million in liquidations and $17.3 million in realized losses.
The anomaly was caused by a price drop from $1,127.90 to $917.25 in the SK Hynix mark price, which was based on an executed trade relayed by multiple independent data providers. The oracle was live in external pricing and tracking this venue, which serves as the primary market for the stock.
Trade.xyz will reimburse liquidation losses attributable to the anomaly, with eligibility requirements to be announced soon. The platform stressed that this is a one-time discretionary measure, and does not guarantee reimbursements following similar incidents in the future.