trade.xyz completes partial compensation distribution for the Hynix contract irregular liquidation incident.

Odaily Planet Daily reported on August 1st that trade.xyz announced the completion of compensation distribution for the SK Hynix contract pricing anomaly on July 27th. Users received their corresponding USDC compensation without any additional action. The announcement stated that the compensation amount was calculated based on a reference price of $1115.5 USD. Users with less than 10,000 USDC received full compensation; those exceeding this amount received 9,999 USDC initially, and users needed to contact support before August 15th to complete due diligence before receiving the remaining compensation. At 23:01 UTC on July 27th, the price of the SK Hynix token on trade.xyz briefly dropped from $1127.9 to $917.25, triggering forced liquidation of numerous long positions.