Hyperliquid encountered an API outage, causing a temporary halt in trading and difficulties for traders unable to close their positions.
API Outage and Its Consequences
Trading on the Hyperliquid decentralized exchange halted after users reported an API outage, preventing interaction with the platform. The outage spanned from 14:20 to 14:47 UTC.
Trading Issues and User Feedback
Following the outage, users reported difficulties accessing their accounts on both mobile and PC. Connection errors impeded not only the closure of positions but also the cancellation of orders or addition of margin.
Market Impact and Affected Accounts
As a result of the outage, over 500,000 accounts may have been endangered. Approximately $538 million in deposited funds remained stuck. Amidst the outage, assets on the platform, particularly BTC, began to lose value.
The Hyperliquid API outage has caused significant issues for traders, leaving them unable to manage their positions and contributing to rising market concerns.
