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Zhu Su: Does Not Believe XPL Price Surge Incident Is Related to Hyperliquid System Issue

2025.08.27 15:32:26

On August 27th, Zhu Su posted on social media, stating that he had gone through the discussions about XPL on HL (Hyperliquid). Honestly speaking, he doesn't view this as an exploit (unlike the jellyjelly incident). The problem is not with the Hyperliquid system itself but that some hedgers shorted an asset that was likely to experience a rapid price increase. In fact, they could have increased the collateral to continue shorting. In my opinion, the only possible issue is that some users might not be familiar with the operations of the "cross" and "isolated" margin modes - that is, even with sufficient funds in the account, they were liquidated due to immediate liquidation.
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