Hyperliquid responds to the "50x leverage whale" ETH long liquidation incident: The protocol has no loopholes and will adjust the BTC and ETH leverage limits

According to the news from Mars Finance, on March 12, Hyperliquid posted on social media platforms stating that "Regarding the issue of the 'Hyperliquid 50x Leverage Whale' (0xf3f4 user) ETH long position: First of all, it is clear that there was no protocol vulnerability or hacker attack. The user held unrealized profits and losses (PNL), made a withdrawal, which led to a decrease in margin, and was subsequently liquidated. Ultimately, the user obtained a profit of approximately $1.8 million, while HLP lost approximately $4 million in the past 24 hours. Currently, HLP's historical cumulative PNL still maintains around $60 million. Please note that HLP is not a risk-free strategy. In order to increase the maintenance margin requirement for large positions, we will adjust the maximum leverage for BTC and ETH, updating them to 40x and 25x respectively. This will provide better buffer for the rollback liquidation of large positions."