Huo Xing Finance reports that on August 1, trade.xyz announced the distribution of compensation for the pricing anomaly event involving the SK Hynix contract on July 27. Users will receive the corresponding USDC without any additional action required. Compensation is calculated based on a reference price of $1,115.50: amounts under 10,000 USDC are fully credited; for amounts exceeding this, users receive 9,999 USDC immediately and must contact support before August 15 to complete due diligence for the remainder. On July 27 at 23:01 UTC, the marked price of the SK Hynix token on trade.xyz dropped sharply from $1,127.90 to $917.25, triggering widespread forced liquidations of long positions.
trade.xyz Completes Partial Compensation Distribution for SK Hynix Contract Anomaly
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Summary
On-chain data shows that trade.xyz completed partial compensation for the July 27 SK Hynix contract anomaly on August 1. Users received USDC based on a reference price of $1,115.50. Amounts under $10,000 were fully credited, while larger claims received $9,999 upfront. On-chain analysis reveals that the SK Hynix token’s price dropped from $1,127.90 to $917.25 at 23:01 UTC, triggering long liquidations. Affected users must contact support by August 15 for full settlement.
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