On the decentralized trading platform Hyperliquid, over 1000 users completely lost their deposits due to a sharp market decline that occurred on the night of October 11. According to analytics from Lookonchain, the total amount of losses exceeded $1.23 billion, and the number of affected wallets significantly surpassed 6000.
This is reported by Finway
Mass Liquidations and Record Losses for Traders
According to experts, over 6300 Hyperliquid addresses experienced losses. The greatest losses were suffered by 205 traders: each of them lost over $1 million. Additionally, more than 1070 wallets lost amounts exceeding $100,000. Among the most affected, four large addresses stand out, with owners experiencing individual losses ranging from $13 million to $18 million. One trader lost $18.73 million, another lost $16.43 million, leaving only $140 in their account. The third user lost $15.69 million, retaining $104, while the fourth lost $13.72 million, completely depleting their account.
“Analysts from Lookonchain reported on massive liquidations on the decentralized platform Hyperliquid. According to their data, during the market crash on the night of October 11, over 1000 wallets were completely wiped out — users lost all their funds.”
Market Situation and Fear Index
The current situation in the cryptocurrency market has been accompanied by a drop in the fear and greed index to 35 points. This occurred against the backdrop of a significant market correction, which forced many traders to incur substantial financial losses. Experts emphasize that such crashes create significant risks for users of decentralized platforms and require increased caution during trading.