Question 1

What caused the trade.xyz SK Hynix liquidations?

Accepted Answer

A single SK Hynix share traded at about $868 in South Korea's NextTrade pre-market session, 29.96% below the prior close, and that price fed trade.xyz's oracle, pushing the perpetual's mark price down 18.7% and liquidating leveraged longs.

Question 2

How much did traders lose and how many were affected?

Accepted Answer

Onchain analysts cited by Galaxy Research estimated liquidated notional between $57 million and $80 million across roughly 960 long accounts, with open interest in the contract falling from $481 million to $331 million within minutes.

Question 3

How is trade.xyz compensating affected traders?

Accepted Answer

trade.xyz measured each eligible liquidation against a reference price of $1,115.5, crediting wallets in full where the amount was under 10,000 USDC, and it described the reimbursement as a one-time discretionary decision rather than a standing policy.

trade.xyz

trade.xyz repays traders after a stock glitch erased $60M in crypto longs

One sharp brief.
Every day.

trade.xyz

trade.xyz repays traders after a stock glitch erased $60M in crypto longs

One sharp brief.Every day.

One sharp brief.
Every day.