A whale-driven 2.5x spike in Hyperliquid’s XPL pre-market wiped out $17M in positions and triggered auto-deleveraging. Hyperliquid says no bad debt occurred but will add new safeguards and external perp data to better manage volatility.

A whale-driven 2.5x spike in Hyperliquid’s XPL pre-market wiped out $17M in positions and triggered auto-deleveraging. Hyperliquid says no bad debt occurred but will add new safeguards and external perp data to better manage volatility.

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