During the Trade.xyz liquidation event, the total settlement of the Micron contract was approximately $80 million, with open interest decreasing by around $150 million.

BlockBeats News, Yesterday morning, in the Korean pre-market, only one stock, SK Hynix, was traded at 1,272,000 Korean won, equivalent to about $868. This transaction of less than $900 was then brought into Trade.xyz's pricing system, causing the price of the SKHX perpetual contract to plummet from $1,128.2 to $927 within one minute. In less than three minutes, hundreds of accounts were liquidated by the system. Over the next four hours, the total liquidation amount reached around $80 million.

According to HyperInsight's on-chain address-by-address analysis, the rapid liquidation of SKHX amounted to approximately $79.398 million in notional value. The open interest in contracts decreased from $481 million to $331 million in a short period, a reduction of about $150 million. The top three addresses on the liquidation leaderboard were jointly liquidated for $14.7754 million, with the largest loss of approximately $3.957 million incurred by the address starting with 0x320, resulting in a realized loss of about $2.045 million.

Trade.xyz issued a statement this morning regarding the Hynix contract insertion incident: it has decided to cover all liquidation losses caused by this price anomaly in a one-time discretionary manner. Specific eligibility criteria will be announced soon, and it is expected to complete the compensation within several days. However, it explicitly stated that this decision "does not constitute a guarantee for similar situations in the future."

For more related reports, see "How $868 Triggered a $500 Million Scale Hynix Contract Market, Revealing the Truth Behind Hyperliquid's Insertion"