Trade.xyz has just fully compensated all users. Today, the crypto market is teasing that its price has plummeted back to the abnormal pin price recorded yesterday.

Trade.xyz released an announcement regarding the SK Hynix contract price pinning incident: At 07:01 on July 28, the marked price of SK Hynix tokens plummeted from $1,127.9 to $917.25, triggering abnormal forced liquidations of a large number of long positions. This price originated from an actual executed transaction captured by multiple independent data providers, with the external venue being a major pre-market in South Korea. Accordingly, Trade.xyz decided to cover all liquidation losses caused by this price anomaly on a one-time, discretionary basis. Today, market commentators joked: "Trade.xyz really bailed out all the longs, haha—refunded them at the pin price, and then 20 hours later the price slowly crept back toward that level." Meanwhile, South Korea’s KOSPI index once fell more than 12% today, and the KOSDAQ index dropped over 8%, triggering circuit breakers on both markets for the first time in history. Samsung Electronics and SK Hynix have plummeted for two consecutive days, with a combined market capitalization evaporation of about 530 trillion won: Samsung’s market value shrank by 257 trillion won, and SK Hynix’s by 273 trillion won. SK Hynix once fell more than 17%, marking its largest single-day percentage drop in history.