On August 4, decentralized exchange Hyperliquid began compensating users affected by an API overload incident that occurred on July 30. The platform is distributing approximately $2 million in total refunds — a move praised by the crypto community for its speed and transparency, despite the absence of legal obligations or service-level agreements (SLAs).
The issue arose during peak trading activity, when open positions on the platform surpassed $14.7 billion. According to the team, API interfaces were failing, while transactions were still being properly processed in the mempool and confirmed on-chain.
Compensation Structure:
- Small traders (under $10,000): fully reimbursed automatically.
- Large traders (over $10,000): received an advance of $9,999, with the remaining amount to be paid upon passing KYC verification via Discord by August 18.
All transactions are publicly available on Hypurrscan, with one user, aaalex.hl, confirming over $1.5 million already distributed.
This response was widely hailed as a benchmark in DeFi accountability, with many in the community pointing to Hyperliquid’s commitment as “exceptional.” On the news, the platform’s native token HYPE rose 2.8%, reaching $38.7, according to CoinGecko.
The incident came shortly after a similar service disruption on the Polygon network, where no new blocks were created for several hours on the same day.
Link: forklog.com.ua