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Hyperliquid API failure leaves traders frozen for 27 minutes
According to CryptoPolitan, citing Hyperliquid users, from 14:20 to 14:47 UTC the crypto exchange experienced an API failure that prevented traders from submitting orders or adjusting their positions.
During the outage, open positions could not be liquidated, forcing users to hold them until the issue was resolved. Users reported issues across both mobile and desktop, completely losing the ability to interact with the protocol. Discord users also reported login failures and an inability to manage their DEX accounts.
"I'm getting error messages from Hyperliquid on both laptop and phone. I can't close positions, can't add margin, can't cancel orders, can't connect on mobile. I'm panicking. Anyone know what to do? Help," wrote user kismet_wtf on X.
View post on X Loading...
Even stop-losses were reportedly disabled, potentially leading to the loss of funds from user wallets.
The API crash also affected Lighter DEX, which uses Hyperliquid's order books.
Traders still don't understand what happened and are waiting for official clarification.
The outage occurred during a key trend reversal in crypto markets, raising concerns about a potential hack or internal failure at the decentralized exchange.
On July 23, Hyperliquid reported a record open interest of over $14.7 billion. The lack of communication after the incident has left the community nervous, drawing parallels to FTX's sudden trading freeze before its collapse.
HYPE price dynamics for 24 hours. Source: CoinMarketCap
Following the API issues, HYPE, Hyperliquid’s native token, fell over 2% on July 29 and was trading above $44 at the time of writing.
As we wrote, Hyperliquid to reimburse users after delisting JELLY perpetual futures
This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.
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