PANews reported on March 12 that according to on-chain analyst Yujin's monitoring, a whale with 50x leverage on Hyperliquid liquidated 15,000 ETH and withdrew 17.09 million USDC in margin. At the same time, due to the withdrawal of the margin, the liquidation price of the 160,000 ETH long position rose, triggering the liquidation. The liquidation position was too large, and to avoid a major impact on the market, Hyperliquid's mechanism is for HLP to take over the position and then gradually close it. HLP took over the position at a price of $1,915, and the 160,000 ETH position taken over by HLP is currently being slowly closed, resulting in an unrealized loss of $3 million.
