Trade.xyz to Refund Traders After SK Hynix Price Glitch

Trade.xyz announced it will reimburse traders who suffered losses during a sudden price drop in its SK Hynix perpetual contracts. The issue started when an external price source reported an incorrect figure, causing the contract mark price to crash by nearly 19 percent in an instant. This triggered a wave of liquidations for users holding positions at the time.

While the platform explained that its internal oracle systems functioned exactly as they were supposed to, the bad data from the outside source was enough to cause the liquidations. The team is now working to identify every eligible trader to make sure they get their funds back for the unfair losses.

This move highlights the ongoing risks of price anomalies in the derivatives market, especially when dealing with external data providers. It also shows how trading platforms are trying to build trust by taking responsibility even when the error does not come from their own tech. Affected users should keep an eye on official channels for the next steps in the refund process.