Hyperliquid claimed 100% uptime during 37-minute outage
Hyperliquid kept its users in the dark yesterday as misleading information about an exchange outage caused horror across global trade desks.
According to a bogus, Photoshopped post, the price of Hyperliquid’s HYPE governance token crashed 50% from over $45 to under $22.37 on third-party exchange Bybit.
Even though that drop never really happened and aggregated data shows a mere 4% intraday move, information from the exchange’s own status webpage did no better communicating the truth about the incident.
Despite users with open positions at up to 40X leverage suddenly unable to manage their positions, Hyperliquid left them utterly in the dark.
While user complaints were raining into its Discord and the exchange suffered 37 minutes of trading outages, its transparency webpage proudly displayed 100% uptime across its front end, API, and L1.
After technicians fixed the problem, the exchange noted the incident only for posterity.
Read more: Hyperliquid has some growing to do before it can take on Binance
According to its official narrative, no one hacked or exploited the exchange. Instead, a “significant spike in traffic” caused order delivery delays to nodes. No team member admitted any fault.
Zero information amid total Hyperliquid outage
The exchange didn’t even bother posting about the massive outage to X — not even after it patched the vulnerability. Its primary social media account hasn’t posted or replied to anyone within the last 24 hours.
Moreover, its latest post to its Telegram announcements channel was last week.
The only scant acknowledgement by Hyperliquid itself of the catastrophic outage during the event itself was in its cumbersome Discord server.
After verifying and navigating to the #announcements channnel, a frantic user would have finally received an administrator message by 10:33am New York time — 23 minutes after the outage began.
That message would not acknowledge the outage or provide any details, merely posting, “the situation is being investigated; will share updates as they come through.”
‘Will share updates as they come’
Left guessing and sifting through a torrent of user complaints on X, it would then not have been until 10:51am New York time that users would find any official confirmation of an outage, when a Hyperliquid co-founder claimed via Discord, “Orders are going through in real-time as of 14:47 UTC.”
The lack of transparency is exceptional for Hyperliquid which ranks among the world’s 10 largest decentralized crypto exchanges.
Within the past 24 hours — including the 37 minute outage — Hyperliquid’s perpetual futures (“perps”) volume ranks the exchange in sixth place below competitors Gate, CoinW, Bybit, Bitget, and Binance.
Its lack of communication during yesterday’s incident raises questions about how many people are actually available at the exchange to respond during emergencies.
Only two people — technical contributor Xulian and co-founder Illensinc — are administrators of its Discord despite thousands of members in the server.
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