Hyperliquid asserts that no security vulnerabilities exist after the XPL hedging attack incident on their platform.
Hyperliquid has provided an official response, warning users about potential risks and adjusting pricing mechanisms to increase stability after the incident.
MAIN CONTENT
Hyperliquid denies the existence of security vulnerabilities related to the XPL hedging attack.
Users are warned to be cautious and clearly aware of the risks when trading.
The upcoming network update will limit the marked price (mark price) to 10 times the 8-hour EMA price.
What is Hyperliquid's response to the XPL hedging attack incident?
Hyperliquid confirms that the platform had no security vulnerabilities exploited in the XPL hedging attack incident. This conclusion is based on direct monitoring by the development team after the incident.
The team monitoring events on Discord reported no technical weaknesses that would allow an attack, but issued warnings for users to increase awareness of risk factors when participating in trading on the platform.
What measures has Hyperliquid taken to prevent recurring risks?
Hyperliquid will implement a network upgrade with the marked price (mark price) limit, specifically this price will not exceed 10 times the EMA price over 8 hours.
The application of this constraint aims to minimize unusual price fluctuations, thereby limiting hedging strategies or attacks that exploit significant volatility to cause damage or manipulate the market.
“After the upgrade, the maximum price that can be reached will be limited to ensure stability and protect user rights.”
– Representative of the Hyperliquid team, August 2024
How does the price limit marked at 10 times EMA over 8 hours affect user experience?
This measure balances maintaining market flexibility and limiting excessive price fluctuations that pose significant risks to participants.
Users will be better protected against price manipulation while maintaining efficient trading capabilities, minimizing unwanted losses in unusual situations.
What are the warnings for users about the risks when trading on Hyperliquid?
Hyperliquid advises users to be clearly aware of the potential risks in trading, especially when the cryptocurrency market is highly volatile and susceptible to external events.
This recommendation serves as a basis for users to manage capital and have appropriate investment strategies to minimize losses in the event of adverse market fluctuations.
Frequently Asked Questions
Has Hyperliquid really been attacked in the hedging of XPL?
No, the Hyperliquid team confirms that the platform had no exploited vulnerabilities in this incident.
How does the network update affect the marked price?
The Hyperp marked price will be limited to a maximum of 10 times the EMA price over 8 hours to reduce excessive volatility.
What should users do after this incident?
It is necessary to enhance vigilance, manage risks, and update changes from Hyperliquid to effectively protect capital.
Does the marked price limit reduce trading capabilities?
No, this measure is to protect the market while maintaining liquidity and trading efficiency.
What are Hyperliquid's next risk mitigation measures?
Currently, Hyperliquid focuses on technical updates and user warnings to enhance safety on the platform.
Source: https://tintucbitcoin.com/hyperliquid-khang-dinh-an-toan-cho-xpl/
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