Hyperliquid responds to the '50x leverage Whale' ETH long liquidation incident: the protocol has no vulnerabilities and will adjust the leverage limits for BTC and ETH.

robot
Abstract generation in progress

BlockBeats news, on March 12, Hyperliquid posted on social media, stating, "Regarding the issue of 'Hyperliquid 50x leverage Whale' (user 0xf3f4) ETH long positions: First of all, it is clarified that there was no protocol vulnerability or Hacker attack. The user held unrealized PNL (PNL), made a withdrawal, resulting in a Margin drop, and was subsequently liquidated. In the end, the user made a profit of about $1.8 million, while HLP lost about $4 million in the past 24 hours. Currently, HLP's cumulative PNL stands at approximately $60 million. Please note that HLP is not a risk-free strategy. In order to increase the maintenance Margin requirements for large Holdings, we will adjust the maximum leverage for BTC and ETH to 40x and 25x respectively. This will provide better cushioning for the liquidation of large Holdings.

View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • 1
  • Share
Comment
0/400
CoinKingTrueAndFalsevip
· 03-12 10:46
Just go for it 💪
View OriginalReply0
Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate app
Community
English
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)