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Hyperliquid co-founder Jeff claims Binance has issues with misreporting user liquidation data

2025.10.13

Hyperliquid co-founder Jeff claims Binance has issues with misreporting user liquidation data

Hyperliquid co-founder Jeff said on social media, "Hyperliquid's fully on-chain liquidations cannot be compared to unreported CEX liquidations. Hyperliquid is a blockchain where all orders, trades, and liquidations occur on-chain. Anyone can permissionlessly verify the execution of the chain, including all liquidations and their fair execution for all users. Additionally, anyone can verify the entire system's solvency in real time. Transparency and neutrality are key reasons why fully on-chain DeFi serves as the ideal infrastructure for global finance."

2025.10.13 - 03:49:42

Navigating Web3 tides with focused insights

TechFlow news, on October 13, Hyperliquid co-founder Jeff posted on social media stating, "Hyperliquid's fully on-chain liquidations are incomparable to underreported CEX liquidations. Hyperliquid is a blockchain where all orders, trades, and liquidations occur on-chain. Anyone can permissionlessly verify the execution of the chain, including all liquidations and their fair execution for all users. Additionally, anyone can verify the solvency of the entire system in real time. Transparency and neutrality are key reasons why fully on-chain DeFi serves as the ideal infrastructure for global finance.

Some centralized exchanges have publicly admitted to significantly underreporting user liquidations. For example, on Binance, even when thousands of liquidation orders occur within the same second, only one is reported. Since liquidations are sudden events, underreporting by up to 100x can easily occur in certain cases. Sources are as follows. It is hoped that the industry will regard transparency and neutrality as essential features of the new financial system and encourage other sectors to follow suit."