Trade.xyz will fully compensate for the abnormal liquidation incident involving Hynix contracts

Foresight News reports that Trade.xyz has announced it will offer a one-time discretionary reimbursement covering all liquidation losses from the recent SK Hynix contract price spike incident. The specific eligibility requirements will be published soon, and compensation is expected to be completed within a few days. However, the platform stated that this decision “does not constitute assurance against similar situations in the future.” At the mechanism level, the platform will accelerate its review of pricing methods, including reevaluating reliance assumptions on external venues and giving its own order book price discovery greater weight (with its order book depth and signal strength having improved significantly compared to external sources), in order to handle tail events more effectively.

According to the Trade.xyz announcement: At 23:01 UTC on July 27, the SK Hynix token's reference price abruptly dropped from $1,127.9 to $917.25, triggering the forced liquidation of numerous long positions. This price originated from an actual transaction captured by several independent data providers, with the external venue being a major Korean pre-market. Its oracle system operated within established specifications, tracking prices from external exchanges in real time, and functioned “as designed” from a technical standpoint. However, the platform acknowledged that user dissatisfaction over the liquidations triggered by this event is understandable.