Explained: How Korea’s SK Hynix Triggered Massive $17.4 Million in Crypto Losses?

Crypto firm to cover $60 million losses after SK Hynix flash crash on Hyperliquid

The mark price fell 19% on a single pre-market trade in Korea. The company says its oracle worked exactly as designed.

Explained: How Korea’s SK Hynix triggered massive $17.4 million in crypto losses?

A rogue pre-market trade in SK Hynix shares in Seoul triggered a 20% flash drop in crypto perpetual contracts on Hyperliquid. The oracle price anomaly wiped out nearly $60 million in long positions, resulting in $17.4 million in realised losses for over 900 crypto traders.

Hyperliquid probes 17.9% SK Hynix perp plunge

Hyperliquid’s SK Hynix perp fell 17.9% after a one-share NXT trade hit limit-down, prompting Trade.xyz to investigate its oracle response.

Trade.xyz to Repay SK Hynix Perp Traders After Price Anomaly

Trade.xyz, the operator behind onchain perpetual markets on Hyperliquid, says it will reimburse eligible liquidation losses after an abrupt price move affected its Hyperliquid-traded SK Hynix (SKHYNIX) contract. In a post on X, the platform linked the incident to an external market trade that its oracle incorporated into the contract’s mark price, triggering liquidation mechanics. According to Trade.xyz, the SKHYNIX mark price dropped from $1,12…

Company behind AI trade that caused $60 million crypto liquidations to cover all losses

Company behind AI trade that caused $60 million crypto liquidations to cover all losses The mark price fell 19% on a single pre-market trade in Korea. The company says its oracle worked exactly as designed. Trade.xyz will reimburse traders whose positions were liquidated after its SK Hynix…

CoinStats - Hyperliquid SK Hynix Perp Drops ~20% on Bad P...

A single anomalous trade in South Korea sent Hyperliquid's SK Hynix perp down ~20%, raising concerns about effective pricing in HIP-3 markets.