BREAKING: Hyperliquid Refunds $2M After API Outage — A New Benchmark for DEX Trust?
In a bold move that’s shaking up trust in decentralized trading, Hyperliquid has reimbursed nearly $2 million in USDC to users affected by a sudden 37-minute API outage on July 29.
The outage sidelined traders from executing orders during a traffic surge that followed Hyperliquid hitting a record-breaking $14.7B in open interest. No exploit or hack — just raw demand.
Despite no legal obligation or service contract, the team moved fast:
✔️ $1.99M paid back
✔️ Immediate partial refunds
✔️ Full refund (>$10K) available after KYC
✔️ Massive user praise across X and Discord
“They had no legal obligation, no SLA, and still paid. This is wild,” said trader aaalex
With over $10.6B 24h open interest, Hyperliquid has climbed into the Top 10 global derivatives exchanges, now ranked 7th.
As DEXs fight for trust in a world still dominated by centralized platforms, Hyperliquid’s move may be a turning point for the perception of decentralized trading reliability.
