Hyperliquid's pre-IPO SpaceX contracts suffers 45% flash crash, liquidating $1.5 million
CoinDesk
A flash crash on Hyperliquid's SpaceX pre-IPO contract caused a 45% drop, liquidating 405 traders for over $1.5 million in losses.Summary
Hyperliquid's SPACEX-USDH perpetual contract experienced a sudden 45% flash crash, falling from $2,277 to $1,254 within 30 minutes. The move resulted in the liquidation of 405 users and $1.51 million in notional value. Analysts attributed the severity of the crash to low market depth and liquidity, as the contract lacks a public spot market benchmark. The majority of affected traders were retail users with minimal margin, and the contract remained at a premium compared to the underlying oracle price following the incident.
(Source：CoinDesk)