Hyperliquid Blames API Traffic Surge for Delays in Orders, Denies Hack
Main Idea
Hyperliquid, a decentralized exchange, experienced a 30-minute trading downtime due to an API overload, not a hack, and has promised new safeguards to prevent future incidents.
Key Points
1. Hyperliquid faced over 30 minutes of downtime due to an API overload, not a hack.
2. The team has promised new safeguards to prevent similar incidents in the future.
3. Hyperliquid’s native token, HYPE, dipped 3.75% during the downtime but has since stabilized.
4. Last week, Hyperliquid reported a record $12.1 billion in open interest following the early listing of Pump.fun (PUMP).
5. Hyperliquid was the first major venue to offer PUMP prelaunch trading, with over $400M in open interest and $600M in 24h volume.
Description
Hyperliquid, a decentralized exchange operating on its own Layer 1 blockchain, experienced over 30 minutes of trading downtime on Tuesday due to an API server overload. Key Takeaways: Hyperliquid faced over 30 minutes of downtime due to an API overload, not a hack. The team has promised new safeguards to prevent similar incidents. The exchange recently hit record open interest and trading volumes, driven by the Pump.fun (PUMP) listing. The incident, which sparked concern among traders, was not t...
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