TechFlow reports, on March 12, Hyperliquid issued an official statement: "Regarding comments and questions about user 0xf3f4's long ETH position: It must be made clear that there was no protocol vulnerability or hack.
This user had unrealized PnL, withdrew funds which reduced their margin, and was subsequently liquidated. Their final PnL was approximately $1.8 million. HLP incurred around $4 million in losses over the past 24 hours. HLP’s historical PnL remains at approximately $60 million. As a reminder, HLP is not a risk-free strategy.
Maximum leverage for BTC and ETH will be updated to 40x and 25x respectively, increasing maintenance margin requirements for larger positions. This will provide better buffer for backstop liquidations of large positions."
Previous report: The "whale with 50x leverage on Hyperliquid" has fully closed its position, with a 160,000 ETH long position being "actively liquidated."
