Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnWeb3SquareMore
Trade
Spot
Buy and sell crypto with ease
Margin
Amplify your capital and maximize fund efficiency
Onchain
Going Onchain, without going Onchain!
Convert & block trade
Convert crypto with one click and zero fees
Explore
Launchhub
Gain the edge early and start winning
Copy
Copy elite trader with one click
Bots
Simple, fast, and reliable AI trading bot
Trade
USDT-M Futures
Futures settled in USDT
USDC-M Futures
Futures settled in USDC
Coin-M Futures
Futures settled in cryptocurrencies
Explore
Futures guide
A beginner-to-advanced journey in futures trading
Futures promotions
Generous rewards await
Overview
A variety of products to grow your assets
Simple Earn
Deposit and withdraw anytime to earn flexible returns with zero risk
On-chain Earn
Earn profits daily without risking principal
Structured Earn
Robust financial innovation to navigate market swings
VIP and Wealth Management
Premium services for smart wealth management
Loans
Flexible borrowing with high fund security
$1.23B Lost in Hyperliquid Crash Hits Over 6,000 Wallets

$1.23B Lost in Hyperliquid Crash Hits Over 6,000 Wallets

CoinomediaCoinomedia2025/10/11 19:42
By:Isolde VerneIsolde Verne

Hyperliquid market crash wipes over $1.23B, impacting 6,300+ wallets with major losses.Hyperliquid Crash Leaves Trail of Devastating LossesWhat Caused the Hyperliquid Collapse?Is Hyperliquid’s Future in Question?

  • Hyperliquid crash wipes out 1,000+ wallets entirely.
  • 6,300+ wallets suffer losses totaling $1.23 billion.
  • 205 wallets lost over $1M; 1,070+ lost $100K+.

Hyperliquid Crash Leaves Trail of Devastating Losses

In a stunning market crash, more than $1.23 billion was wiped out on the Hyperliquid trading platform, affecting thousands of traders and wallets. The crash has triggered serious concerns about risk management on emerging decentralized derivatives exchanges.

According to on-chain data, over 6,300 wallets experienced significant losses, with 205 wallets losing over $1 million each, and 1,070+ wallets losing over $100,000. Even more shocking, over 1,000 wallets were completely wiped out, leaving users with zero balance.

The incident has sent shockwaves across the DeFi community, especially among high-leverage traders and investors who use advanced perpetual platforms like Hyperliquid.

What Caused the Hyperliquid Collapse?

While specific technical reasons for the crash are still being analyzed, many observers point to a sudden market-wide drop that triggered cascading liquidations. Platforms like Hyperliquid offer high leverage, meaning that even small price swings can result in massive liquidations for users with leveraged positions.

The liquidation engine on these platforms automatically closes positions when collateral levels drop below margin requirements. In extreme conditions—like this crash—it leads to widespread wallet wipeouts in seconds.

Though some users are calling for refunds or protocol-level fixes, decentralized platforms often operate with minimal user protection and “code is law” philosophies.

JUST IN: Over 1,000 wallets on Hyperliquid wiped out in market crash, 6,300+ wallets with losses exceeding $1.23B, 205 wallets lost over $1M and 1,070+ lost over $100K. pic.twitter.com/3rRTA1rb3n

— Whale Insider (@WhaleInsider) October 11, 2025

Is Hyperliquid’s Future in Question?

The crash has sparked debate about the long-term viability of high-risk DeFi platforms. Hyperliquid had gained attention for its fast trading engine and growing liquidity, but this event highlights the vulnerabilities that come with speed, leverage, and decentralization.

Critics argue that without better risk control mechanisms, these platforms leave users dangerously exposed. Supporters say this is a necessary risk in decentralized finance and that users must take full responsibility for their trading strategies.

Regardless, the $1.23B loss is a brutal reminder of how quickly fortunes can disappear in the crypto world—and how essential proper risk management remains.

Read Also:

  • $1.23B Lost in Hyperliquid Crash Hits Over 6,000 Wallets
  • Trump Confirms 130% Tariffs on China from Nov 1
  • Bitcoin Holds Strong Above EMA-50, Macro Trend Intact
  • Top Cryptos To Buy Today: Why MoonBull, AVAX, and Bitcoin Cash Are Gearing Up for Big Gains in 2025
0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Earn new token airdrops
Lock your assets and earn 10%+ APR
Lock now!