The blockchain exchange Hyperliquid announced a trading outage caused by issues with its API server and will be issuing automated refunds to affected users.
Description of the Trading Outage
Trading on Hyperliquid was disrupted for over 30 minutes starting at 14:10 UTC, leading to delays and errors when closing positions. This resulted in noticeable price divergences and confusion among traders. Initially, the exchange’s status page did not reflect the outage, but later updates confirmed a 'major outage' linked to a traffic surge.
Refunds for Users
The Hyperliquid team stated that refunds would be processed automatically once the method is finalized. Messages posted on Telegram and Discord indicated that impacted users do not need to open tickets, as everything will be handled automatically. More details will be shared in the coming days.
Impact on HYPE Token
During the outage, the HYPE token dropped by about 3.75% and is currently trading at $42.30. The exchange highlighted that its blockchain infrastructure continued to run normally, although users experienced API errors.
The trading outage at Hyperliquid emphasizes the importance of reliable infrastructure amid rising platform usage. The team is working on improvements to prevent similar issues in the future.
