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Lighter: HYPE and ZEC saw brief, intense volatility; a trading bot lost about $482k

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ME News: On July 27 (UTC+8), Lighter posted on X, saying that a certain trading bot malfunctioned on July 25, temporarily impacting the HYPE and ZEC markets. During the incident, within half a minute, the HYPE price touched $60.96 and $56.31 in succession, while external trade prices were around $58 at the same time; afterward, the price recovered within one minute. There were no forced liquidations across the whole market, and the losses were limited to the accounts that caused the issue. The bot was launched with $500k in capital, and within 5 minutes it executed round-trip trades of $27 million on HYPE, accounting for 74.2% of the market trading volume; on ZEC, it generated a $208 million buy-side volume, accounting for 86.7%, which caused the ZEC price to briefly rise to $521. Lighter said the risk engine marked positions using an anti-manipulation fair price mechanism and rejected 801 orders when margin was insufficient. Ultimately, the bot lost about $482k, all from its own funds. Lighter’s Liquidity Pool (LLP) earned about $143k, and 40 separate accounts each profited more than $1,000. (Source: ODAILY)
HYPE-2.23%
ZEC-2.28%
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xxxxit
· 10h ago
Low price, getting ready, getting ready for bed, sleeping, sleeping, sleeping, the world is
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