According to BlockBeats, on August 1st, trade.xyz announced that it has completed the partial distribution of compensation for the Hynix contract pricing anomaly on July 27th. Users will receive the corresponding USDC without any additional action. The compensation is calculated based on a reference price of $1115.5 USD. Amounts below $10,000 USDC will be credited in full, while amounts exceeding $10,000 USDC will be credited initially with $9,999 USDC. Users must contact support before August 15th to complete due diligence.
At 23:01 UTC on July 27, the price of SK Hynix tokens on trade.xyz plummeted from $1,127.9 to $917.25, triggering a large number of forced liquidations of long positions.