A very useful bet on the Ether (ETH) was revealed on Hybrid Exchange Hyperliquid, which led to a $ 200 million liquidation and a loss of $ 4 million for the increased liquid provider (HLP).
One user, identified by the first letters of the “0xf3F4” portfolio, is a long 50x center on the second largest encrypted currency through the market value on the platform by about $ 4.3 million to create a fabric site of 113,000 ETH.
Then the portfolio began to withdraw money strategically, which leads to the erosion of the margin, which supports its huge position to the point that it exceeded the minimum requirements. This step led to $ 1.8 million to the user, while HLP – a cellar designed to collect user deposits for liquidity on the stock exchange – lost $ 4 million.
The results of the speculation in the trade of feeding speculation among excessive users, as some are initially suspected of exploiting the basic technology of the platform. The stock exchange treated users’ concerns, saying that the HLP cellar “is not a risk -free strategy” and that the accident was not an exploitation or penetration.
The platform also confirmed that despite the great loss per day, the HLP cellar is still profitable in general, which is absolutely profit for about $ 60 million.
With regard to comment and questions on ETH or Ling for a user 0xf3F4:
To clarify: There was no exploitation of a protocol or penetration.
This user was not verified by PNL, withdrew, lowering the margin, and was filtered. End with $ 1.8 million in PNL. HLP has lost $ 4 million over the past 24 hours. Hlp’s …
Hyperleliid (Hyperliquidx) March 12, 2025
Reduces the high liquid from the leverage
In the aftermath of this event, HyperleQuid announced that to alleviate a similar occurrence in the future, it reduces the maximum amount of financial leverage permitted on both BTC and ETH contracts to 40x and 25x, respectively.
The amendment will increase the margin of maintenance for prominent jobs, providing more important insulation against rapid margin erosion and possible references.
HyperLiIID’s Noise The symbol decreased by more than 5 % from the accident, now standing by more than $ 13, a decrease from more than $ 14.5 earlier in the day. The cryptocurrency lost about 44.5 % of its value over 30 days amid a shrinkage in the wider encryption market.
