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Hyperliquid’s SPACEX-USDH perpetual contract plunged nearly 45% in 30 minutes on Thursday, falling from $2,277 to $1,254 before rebounding…

Hyperliquid’s SPACEX-USDH perpetual contract plunged nearly 45% in 30 minutes on Thursday, falling from $2,277 to $1,254 before rebounding to around $2,169. The move liquidated 405 users across 1,393 positions, wiping out $1.51 million in notional value. Ventuals later said its SPACEX market was affected by incorrect data returned by an offchain data provider used as part of the oracle price, causing both oracle and mark prices to move sharply. Ventuals said it has taken immediate steps to prevent similar incidents across pre‑IPO markets and is evaluating compensation for affected users.
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