Trade.xyz Reimburses Users for SK Hynix Flash Crash Liquidations

Trade.xyz covers all losses from SK Hynix token anomaly after price drop triggered mass liquidations. South Korean markets hit circuit breakers with massive value loss.

Woofun AI reports that Trade.xyz has fully reimbursed users for losses incurred during the SK Hynix contract injection incident. On July 28, the token price dropped from $1,127.9 to $917.25, causing abnormal forced liquidations of long positions based on data from South Korean pre-market venues. The platform decided to cover these losses in a one-time discretionary manner.

Meanwhile, South Korean equity markets experienced severe declines, with the KOSPI falling over 12% and KOSDAQ dropping more than 8%, triggering historic circuit breakers. Samsung Electronics and SK Hynix saw combined market value evaporate by approximately 530 trillion KRW, with SK Hynix recording its largest single-day decline in history.