Hyperliquid responds to the "50x leverage giant whale" ETH long liquidation event: the protocol has no vulnerabilities and will adjust the leverage limits for BTC and ETH to enhance the safety of large positions

ChainCatcher message, Hyperliquid posted on social media, "Regarding the issue of 'Hyperliquid 50x leverage whale' (0xf3f4 user) ETH long position: Firstly, to clarify: there was no protocol vulnerability or hacking incident.

The user held unrealized profit and loss (PNL), made a withdrawal, which led to a reduction in margin, and was subsequently liquidated. Ultimately, the user made a profit of approximately $1.8 million, while HLP lost about $4 million in the past 24 hours. Currently, HLP's historical cumulative PNL remains at approximately $60 million. Please note that HLP is not a risk-free strategy.

To increase the maintenance margin requirements for large positions, we will adjust the maximum leverage for BTC and ETH, updating them to 40x and 25x respectively. This will provide better cushioning for the fallback liquidation of large positions."