According to BlockBeats, on March 12th, Hyperliquid mentioned in its social media post: "Regarding the issue with the long positions on ETH (0xf3f4 by user ) with 50x credit leverage from Whale at Hyperliquid: first of all, it should be clarified that there were no protocol vulnerabilities or hacking attacks. The user had unrealized PNL (PNL), made a withdrawal, which led to a margin plummet, and was later liquidated. Ultimately, the user made approximately $1.8 million in profit, while HLP suffered losses of about $4 million in the past 24 hours. Currently, historically accumulated PNL HLP still amounts to approximately $60 million. Please note, HLP is not a risk-free strategy. To increase margin requirements for holding large assets, we are increasing the maximum credit leverage for BTC and ETH to 40 and 25 times, respectively. This will provide a better buffer for liquidating failures of large assets.