{"id":102777,"date":"2026-07-29T08:39:14","date_gmt":"2026-07-29T08:39:14","guid":{"rendered":"https:\/\/www.europesays.com\/korea\/102777\/"},"modified":"2026-07-29T08:39:14","modified_gmt":"2026-07-29T08:39:14","slug":"trade-xyz-to-cover-losses-from-60m-sk-hynix-liquidations","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/korea\/102777\/","title":{"rendered":"Trade.xyz to Cover Losses From $60M SK Hynix Liquidations"},"content":{"rendered":"<p class=\"wp-block-paragraph\">One unusually low SK Hynix trade sent the crypto contract down about 20%, triggering nearly $60 million in liquidations within two minutes.<\/p>\n<p class=\"wp-block-paragraph\">Trade.xyz, a trading interface offering access to stock-linked perps on <a href=\"https:\/\/bitcoinfoundation.org\/tag\/hyperliquid\/\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">Hyperliquid<\/a>, said it would compensate users after one unusually low trade in SK Hynix shares triggered nearly $60 million in liquidations.<\/p>\n<p class=\"wp-block-paragraph\">The incident began on July 27, when Trade.xyz\u2019s SK Hynix contract fell from $1,127 to approximately $920 after a single share traded in South Korea\u2019s thin premarket session at roughly 30% below the previous close.<\/p>\n<p><img fetchpriority=\"high\" decoding=\"async\" width=\"1000\" height=\"306\" src=\"https:\/\/www.europesays.com\/korea\/wp-content\/uploads\/2026\/07\/image-1785310169.webp\" alt=\"SKHXUSD price on Trade.xyz. Source: Trade.xyz\" class=\"wp-image-10389\"  \/>SKHXUSD price on Trade.xyz. Source: Trade.xyz<\/p>\n<p class=\"wp-block-paragraph\">The later trades occurred at significantly higher prices. Yet, it was too late to save the traders, who had their positions closed automatically.<\/p>\n<p class=\"wp-block-paragraph\">Nearly $60 million in long positions were liquidated within two minutes, according to data from Allium, while more than 900 users suffered an estimated $17.4 million in actual losses.<\/p>\n<p class=\"wp-block-paragraph\">Read also: <a href=\"https:\/\/bitcoinfoundation.org\/news\/defi\/rwa-over-crypto\/\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">Tokenized Asset Trading on Hyperliquid Surpasses Crypto for the First Time \u2014 RWA Captured 52% of Weekly Volume<\/a><\/p>\n<p>The Price Feed Worked as Designed<\/p>\n<p class=\"wp-block-paragraph\">In a <a href=\"https:\/\/x.com\/tradexyz\/status\/2082260930751082821\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">post on X<\/a> from July 29, Trade.xyz asserted that the low price was a legitimate trade that had been executed as evidenced by the independent data providers. The system was designed to operate within the Korean pre-market venue, and hence the price feed fulfilled the protocol\u2019s specifications. Trade.xyz wrote:<\/p>\n<p class=\"wp-block-paragraph\">\u201cThe XYZ oracle was live in external pricing and tracking that venue, which serves as the primary Korean pre-market venue. The oracle system worked as intended according to its specification.\u201d<\/p>\n<p class=\"wp-block-paragraph\">Still, the company said it would \u201ccover liquidation losses attributable to this anomaly.\u201d It plans to announce eligibility requirements soon and expects to distribute payments \u201cin the coming days,\u201d though it described the reimbursement as \u201ca one-time discretionary decision.\u201d<\/p>\n<p class=\"wp-block-paragraph\">The contract trades on XYZ, a perps venue built on the Hyperliquid network and accessed through Trade.xyz.<\/p>\n<p class=\"wp-block-paragraph\">Under Hyperliquid\u2019s HIP-3 system, XYZ is responsible for listing its markets and setting leverage limits, while Hyperliquid handles order matching, liquidations and settlement.<\/p>\n<p class=\"wp-block-paragraph\">Read more: <a href=\"https:\/\/bitcoinfoundation.org\/news\/defi\/traders-cryptocurrency-trading-pre-ipo-bets-cxmt\/\" rel=\"nofollow noopener\" target=\"_blank\">Traders Turn to Cryptocurrency Trading for Pre-IPO Bets on CXMT<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"One unusually low SK Hynix trade sent the crypto contract down about 20%, triggering nearly $60 million in&hellip;\n","protected":false},"author":2,"featured_media":102778,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[23],"tags":[5170,241,240,957],"class_list":["post-102777","post","type-post","status-publish","format-standard","has-post-thumbnail","category-sk","tag-hyperliquid","tag-sk","tag-sk-group","tag-stocks"],"_links":{"self":[{"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/posts\/102777","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/comments?post=102777"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/posts\/102777\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/media\/102778"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/media?parent=102777"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/categories?post=102777"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/tags?post=102777"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}