Decentralized exchange Hyperliquid has refunded nearly $2 million to users impacted by a brief outage last week, potentially boosting trust in decentralized trading platforms. The outage, which lasted about 37 minutes, occurred due to a spike in traffic after the platform hit a record high of $14.7 billion in total open interest. On Monday, Hyperliquid reimbursed affected users a total of $1.99 million in USDC, as confirmed by on-chain data. Users praised the swift response, noting that over $1.5 million had already been distributed. Despite having no legal obligation to do so, Hyperliquid's actions were seen as commendable. The platform, now the seventh-largest derivatives exchange globally, has faced challenges, including a $6.26 million exploit earlier this year. Users owed more than $10,000 must complete KYC verification to receive their full refunds, having initially received $9,999. Hyperliquid's proactive approach may enhance its reputation amid increasing competition with centralized exchanges. Read more AI-generated news on: https://app.chaingpt.org/news

#DEX #USDC