BlockBeats News, July 29, Trade.xyz issued a statement regarding the SK Hynix contract exploit incident: At 07:01 on July 28, the SK Hynix token's price dropped from $1,127.9 to $917.25, triggering a large number of long positions' forced liquidation due to the abnormal price movement. This price was based on an actual trade transaction captured by multiple independent data providers, with the external venue being a major pre-market in South Korea. In response, Trade.xyz has decided to cover all liquidation losses caused by this price anomaly in a one-time discretionary manner.

Today, some market observers jokingly commented, "Trade.xyz really saved all the longs haha, did a refund on the exploit line, and 20 hours later, the price slowly approached that exploit line again."

Today, the South Korean KOSPI index plunged over 12%, KOSDAQ dropped over 8%, both markets triggered a circuit breaker for the first time in history. Samsung Electronics and SK Hynix witnessed consecutive two-day slumps, with a total market cap evaporation of around 53 trillion Korean won, where Samsung Electronics shrank by 257 trillion Korean won, and SK Hynix shrank by 273 trillion Korean won. SK Hynix plummeted over 17% setting a new record for the largest single-day drop in history.