Weekly Project Updates: Hyperliquid Faces Losses as Whale Liquidation Rocks the Platform, and Tokenized Treasury Product BUIDL Surpasses $1 Billion in Value, etc
1. Hyperliquid Suffers $4 Million Loss in HLP Vault as High-Leverage Whale Position is Liquidated; Platform Reduces Leverage Limits link On March 12th, the HLP Vault of Hyperliquid suffered a loss of over $4 million. The reason was that a whale took a long position in ETH with 50 — times leverage. The position was as high as $340 million and once had a floating profit of $8 million. After the whale partially closed the position, it withdrew $17.09 million in USDC margin, triggering the liquidation of the remaining 160,000 — ETH position. Due to the large liquidation volume, the HLP Vault took over the position at $1,915 and gradually closed it. It still has a floating loss of $4 million. Hyperliquid’s official response stated that this incident was not a vulnerability or a hacking attack, and it announced that the maximum leverage for BTC and ETH would be reduced to 40 times and 25 times, respectively. 2. Scroll Announces Upgrade to Stage 1 ZK-Rollup Expected in April link Scroll tweet...