The exchange said the SKHYNIX perpetual contract was deployed and operated by the Trade[XYZ] team, which is reviewing the incident and will provide an update after reaching a conclusion.
Hyperliquid said an investigation is underway into a spike in the SKHYNIX perpetual contract. The platform said the SKHYNIX perpetual contract was deployed and operated by the Trade[XYZ] team, and that team is now examining the incident and plans to update the market once it reaches a conclusion. Perpetual contracts (futures without expiry) are widely used in crypto trading, and unusual price spikes can raise concerns about market integrity, liquidity, or contract design.