trade.xyz Distributes Partial Compensation for SK Hynix Liquidation Event

trade.xyz issues USDC refunds for July 27 SK Hynix pricing anomaly. Claims under $10k auto-credit; larger amounts require manual verification by Aug 15.

Woofun AI reports that trade.xyz has initiated partial compensation distribution for the abnormal pricing event affecting the SK Hynix contract on July 27. Users are set to receive USDC automatically without further action required. The compensation calculation utilizes a reference price of $1115.5. For claims totaling less than 10,000 USDC, the full amount is credited directly. For amounts exceeding this limit, the initial $9999 is credited immediately, while users must contact support before August 15 to finalize due diligence for the remainder.

The incident originated on July 27 at 23:01 UTC, when the SK Hynix token price on trade.xyz dropped sharply from $1,127.9 to $917.25. This sudden price movement triggered forced liquidations across a significant number of long positions.