SKHX Flash Crashes 17.9% on Hyperliquid Following Korean Pre-market Anomaly

SKHX futures on Hyperliquid dropped 17.9% after a low-price trade in Korean pre-market triggered oracle updates. Binance liquidations surged briefly, though prices have since recovered.

Woofun AI reports that SK Hynix (SKHX) perpetual futures on Hyperliquid experienced a 17.9% flash crash, briefly exceeding Binance in total liquidation volume within a four-hour window. The volatility originated from an anomalous transaction in the Korean NXT pre-market, where a single share traded at 1.272 million Korean won ($867), causing a 30% price drop and subsequent trading halt due to thin liquidity.

The Hyperliquid oracle adjusted to the depressed price, driving down SKHX futures values and triggering arbitrage-driven declines on Binance. While prices have normalized, it remains uncertain whether positions liquidated during the abnormal fluctuation will receive compensation.