Hyperliquid Response to "50x Leverage Whale" ETH Long Liquidation Event: Protocol Unaffected, Will Adjust BTC and ETH Leverage Limits

BlockBeats News, March 12: Hyperliquid posted on social media, stating, "Regarding the 'Hyperliquid 50x Leveraged Whale' (user 0xf3f4) ETH long position issue, first of all, it is clear: there was no protocol vulnerability or hack."

The user held an unrealized profit and loss (PNL), withdrew funds, causing the margin to decrease, and was subsequently liquidated. In the end, the user made a profit of approximately $1.8 million, while HLP lost about $4 million in the past 24 hours. Currently, HLP's historical accumulated PNL still stands at around $60 million. Please note that HLP is not a risk-free strategy.

"To increase the maintenance margin requirement for large positions, we will adjust the maximum leverage for BTC and ETH to 40x and 25x, respectively. This will provide better cushioning for the liquidation of large positions."