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SKHYNIX Perpetual Futures Crash 18% on Hyperliquid, Trade.xyz to Compensate Liquidated Traders

Derivatives Data Price Volatility Exchange Risk Security Incidents

2026-07-29 02:42:46

HYPE0.17%

According to Trade.xyz, on July 27 at 23:01 UTC, the SKHYNIX mark price on Hyperliquid-based perpetual futures plummeted from $1,127.9 to $917.25, triggering forced liquidations of long positions worth approximately $179,830 within one hour. The price decline was driven by an executed trade relayed by multiple independent data providers. Trade.xyz confirmed the oracle system functioned as designed but acknowledged trader losses and announced it will compensate liquidated users. The company emphasized this is a discretionary one-time measure and plans to enhance its pricing system to better handle tail events.

Disclaimer: The information on this page may come from third-party sources and is for reference only. It does not represent the views or opinions of Gate and does not constitute any financial, investment, or legal advice. Virtual asset trading involves high risk. Please do not rely solely on the information on this page when making decisions. For details, see the Disclaimer.

Related News

trade.xyz's SKHYNIX Marking Price Crashes 18.6% on July 27, Platform Agrees to Compensate Liquidated Users

SK Hynix Perpetual Futures Plunge 18% on Hyperliquid, Recover Within 2 Minutes

SK Hynix Perp on Hyperliquid Liquidates $57.4M After Seoul Oracle Anomaly on July 27

SKHX Crashes to $927 on Hyperliquid, Triggering $79.4M in Liquidations on July 28

In-Depth Analysis

Trade.xyz absorbed SK Hynix’s perpetual contract liquidation loss, and the abnormal pre-market orders in NXT were the root cause.

Market Whisper6h ago

Crypto Long Positions Face $447M Liquidation, Largest in 33 Days

Lucas Bennett17h ago

Hyperliquid SK Hynix Perp Drops 17.9%, $57M Liquidated After NXT Oracle Anomaly

Crypto Frontier20h ago

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