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– The incident started at approximately 14:10 UTC when users reported being unable to execute or manage trades, causing serious concern for traders holding positions with leverage up to 40x.

Users complained about bugs on Hyperliquid on both laptops and mobile devices.

It was impossible to close positions, add margin or cancel orders.

Despite the issue, Hyperliquid did not post a warning on their official communication channels. About 23 minutes later, a vague message appeared on the Hyperliquid Discord server stating that an investigation had begun.

By 14:47 UTC, trading had reportedly recovered and the co-founder confirmed that orders were once again being processed in real time.

According to a brief update on the status page, the glitch was not caused by a hack or exploit. Instead, the exchange cited a significant spike in traffic, which delayed the delivery of orders to its nodes.

A follow-up message said that improvements would be made to prevent future outages, including additional measures to detect problems with the API server.

Despite the public failure, Hyperliquid did not provide a detailed post-mortem report or take official responsibility. The incident has raised concerns about the exchange’s crisis response protocols and overall transparency.

Hyperliquid is a decentralized perpetual futures exchange built on HyperEVM’s proprietary Tier 1 blockchain. It ranks among the top ten decentralized exchanges in the world in terms of trading volume, ranking sixth in terms of daily trading of open-ended futures during outages.

Meanwhile, the platform’s managing token HYPE has fallen more than 5% in the past 24 hours and is currently trading at around $42.63, down from an all-time high of $49.86 reached just two weeks ago, according to CoinMarketCap.

The incident underscores the growing concern about infrastructure reliability and how decentralized platforms respond when real-time performance matters most, especially in volatile, high-volume markets.

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Users are also asking: What is Hyperliquid?

Hyperliquid is a decentralized exchange (DEX) specializing in trading open-ended futures. It runs on a proprietary high-performance Tier 1 blockchain called HyperEVM, designed to support low-latency, high-bandwidth trading.

What makes Hyperliquid different from other decentralized exchanges?