Hyperliquid Crash: $1.23 Billion Lost as Thousands of Wallets Suffer Wipeouts

A devastating market crash on the Hyperliquid trading platform has left over 6,300 users with significant losses totaling $1.23 billion. The incident highlights the risks associated with high leverage and decentralized exchanges, resulting in thousands of wallets being wiped out entirely. 205 wallets lost over $1 million, while 1,070+ experienced losses exceeding $100,000. Over 1,000 wallets were completely emptied, leaving users with zero balance. Experts are examining the technical causes behind this sudden crash, but it’s clear that the rapid liquidation of positions on platforms like Hyperliquid contributed to the widespread losses.