@HyperliquidX API crashed!! But buy orders surged? At 10:30 PM the night before yesterday, @HyperliquidX experienced a major anomaly—users were unable to withdraw funds or trade. Even Dapps running on HyperEVM were down, and funding rates plummeted instantly, putting short holders at a significant disadvantage. Some users even couldn't actually execute their stop-loss orders after their contract orders were triggered. 🔍 Many users immediately switched to the rival platform @Lighter_xyz to open short positions $HYPE. But here's the interesting part! 👉 At this point, @Lighter_xyz's funding rate turned negative, but the order book showed more buy-side liquidity than sell-side liquidity? Generally speaking, when short sellers enter the market in large numbers and sell orders appear in large numbers, the price should become increasingly lower. This indicates that these orders are most likely not placed by market-making bots or trading programs, but by users themselves! --- Why do this? Possible reasons include: 1️⃣ Arbitrageurs want to close out their past arbitrage positions while the price is low. 2️⃣ Market makers are implementing their own risk management and automatically canceling sell orders to prevent arbitrageurs from profiting from them. (If this is the reason, the decentralization of @Lighter_xyz would be questioned.) In fact, looking back after this incident, the price of $HYPE hasn't fallen significantly, but has continued to fluctuate, indicating that the fundamentals of $HYPE remain strong. If this happens again, keep an eye out for market trends similar to the current one; perhaps you can find gold in the chaos! See how @HyperliquidX responded below! 👇

The day after the major outage, @HyperliquidX immediately released a statement: 1. We will optimize our systems to prevent similar incidents in the future. 2. Affected users will receive refunds automatically, eliminating the need to contact customer service. The immediate announcement of compensation and explanation of the incident the day after the outage demonstrates that the @HyperliquidX team truly cares about their users' experience!

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