Trade.xyz is stepping in to compensate traders who were liquidated during a chaotic market event involving SK Hynix perpetual futures. An unusual price anomaly caused the contract's mark price to plummet by nearly 19%, triggering automated liquidation protocols that caught many users off guard.
Despite the fallout, the platform maintains that its proprietary oracle system functioned exactly as programmed. The exchange clarified that the issue stemmed from an external data feed reporting an incorrect price print rather than a technical failure within their own infrastructure.
Recognizing the frustration caused by the unexpected market move, leadership at Trade.xyz has opted to cover the losses for all eligible accounts. This move is widely seen as an effort to preserve user trust and demonstrate accountability in the volatile decentralized finance space.
The platform is now conducting a comprehensive audit of its data sourcing partners to prevent similar discrepancies from occurring in the future. Affected traders are encouraged to monitor official communication channels for specific instructions regarding their reimbursement claims.
