Hyperliquid probes 17.9% SK Hynix perp plunge

Hyperliquid’s SK Hynix perpetual contract briefly fell about 17.9% on July 28 after an unusually low pre-market trade in South Korea fed into the contract’s oracle pricing. Summary 17.9% intraday decline followed one anomalous NXT trade involving only a single SK Hynix share. Trade.xyz operates the SKHX market and is investigating the oracle-driven move, Hyperliquid representatives said publicly. HIP-3 deployers control oracle inputs, leverage settings and settlements for markets they independently create themselves. The market, officially listed as xyz:SKHX, tracks the U.S. dollar value of one common SK Hynix share traded in South Korea. Hyperliquid’s interface displays the contract as SKHYNIX-USDC and permits leverage of up to 10 times. A Hyperliquid representative said the market was deployed and operated by Trade.xyz under the HIP-3 framework. Trade.xyz is investigating and plans to publish an update after reaching a conclusion, according to a statement reported by ChainThink. Hyperliquid Community Addresses SK Hynix Perp Anomaly: Deployed by XYZ and Under InvestigationHyperliquid’s xyz:SKHYNIX perpetual contract briefly fell 17.9% after an anomalous pre-market trade in South K...