Hyperliquid’s decentralized exchange paid for nearly $ 2 million to users affected by a brief flow last week, a step that could boost confidence in decentralized trade platforms.
The Hyperliquid Platform’s Application Programming Interface (API) Website Shut up.
On Monday, Hyperliquid released refunds worth $ 1.99 million in the USDC (USDC) to affected users, onchain data from Hypurrscan Shut up.
Hyperliquid’s rapid response and $ 2 million payments following half an hour’s flow was praised by users.
“More than $ 1.5M has already been sent to users (can be confirmed),” said the Hyperliquid businessman Aaalex on a Monday x Post. “It is incredibly believed that they have no legal obligations, no contract or SLA to do so,” he added.
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Hyperliquid’s handling of the situation came as decentralized exchanges (Dex) More competitive with centralized platformsDespite the recent setbacks. In March, The platform suffered A $ 6.26 million exploitation involving the Jelly my jelly (jelly) memecoin due to a weakness in its extermination parameters.
Hyperliquid has grown to be the seventh largest largest derivatives exchange in the world, with over $ 10.6 billion of 24-hour open interest, from the 12th place since the beginning of April, Co ringecko Data displays.
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Hyperliquid outage caused by traffic spikes, not exploited
While flowing has caused initial concerns in a potential hack or exploitation, Hyperliquid said the issue was caused by a “significant traffic spike” after the platform Nailed A $ 14.7 billion record high in total open interest on July 23.
“During the period from 14: 10-14: 47 UTC on July 29, orders were delayed due to API servers experiencing a significant traffic spike,” Hyperliquid said on a Monday of the telegram announcement.
“The API returned error responses despite transactions sent to Mempool and was later included in the blocks,” the announcement, which added that it initiated payments to the affected traders based on the three categories.
However, users who owe more than $ 10,000 will need to be completed Know your customer (KYC) Verification for full refund. These users have already received $ 9,999 of their refunds, but it will be necessary to complete the verification process through a discord ticket by August 18 to receive the remaining funds.
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