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 launches event contracts, wiring prediction markets into its Hyperliquid book

Hyperliquid permissionless prediction markets go live

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

One sharp brief.
Every day.

trade.xyz

trade.xyz launches event contracts, wiring prediction markets into its Hyperliquid book

Hyperliquid permissionless prediction markets go live

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

One sharp brief.Every day.

One sharp brief.
Every day.