Trade.xyz is reportedly set to pay approximately $80 million in compensation to SK Hynix over a pinning attack, while the address that suffered the largest losses is slated to receive around $2 million.

BlockBeats News: Yesterday morning, only one share of SK Hynix traded in South Korea’s pre-market at 1,272,000 won, equivalent to roughly $868. This transaction, worth less than $900, was subsequently fed into TradeXYZ’s pricing system, causing the SKHX perpetual contract to plunge to a low of $927 from $1,128.2 in one minute. Within less than three minutes, hundreds of accounts were liquidated by the system. Over the next four hours, the total liquidation volume rose to around $80 million. If Trade.xyz follows its announcement to compensate all liquidation losses caused by this price anomaly, the total payout could reach roughly $80 million. According to HyperInsight’s detailed on-chain address tracking, the notional value of SKHX liquidations in the short period hit approximately $79.398 million, with open interest dropping from $481 million to $331 million—a decrease of around $150 million. The top three addresses on the liquidation list were collectively liquidated for $14.7754 million; among them, the address starting with 0x320 (the one with the largest loss) was liquidated for roughly $3.957 million, resulting in a loss of about $2.045 million. This morning, Trade.xyz released an announcement regarding the Hynix contract "pinning" incident, stating it will cover all liquidation losses caused by this price anomaly on a one-time, discretionary basis. Specific eligibility requirements will be announced soon, and payouts are expected to be completed within several days. The platform explicitly noted that this decision "does not constitute a guarantee for similar situations in the future." For more related reports, see "How $868 Moved the $500M Hynix Contract Market: The Truth Behind the Hyperliquid Pinning Incident."