Hyperliquid Faces Temporary Outage Due to Surge in Traffic

On July 29, the popular decentralized exchange (DEX) Hyperliquid, known for perpetual futures trading, experienced a brief outage. According to their status page, the disturbance was caused by a sudden spike in traffic that affected the functionality of the application programming interface (API).

«From 14:10 to 14:47 UTC, there was a delay in order transmission to nodes due to an overload of the API servers resulting from the traffic surge. This incident is not related to a hacking attack or the exploitation of any vulnerabilities. The issue has been resolved, and we are committed to implementing enhancements,» stated Hyperliquid.

The developers have promised to introduce further protective measures to prevent similar incidents in the future.

Shortly before the issue was identified, some funding rates on Hyperliquid turned negative, and traders reported that their orders were not being executed.

A DEX representative promptly confirmed on Discord that the team was investigating the cause of the incident. Within half an hour of the initial reports, Hyperliquid managed to address the problem.

During the outage, asset prices on the platform deviated from market rates by approximately $9.

The disruption also affected BasedApp, a trading application based on Hyperliquid, which is supported by Delphi, Hashed, and Spartan. A project representative confirmed in a comment to The Block that users were unable to place orders. As of the time of writing, the service is functioning normally.

According to CoinGecko, the price of the HYPE token has decreased by almost 2% over the past 24 hours and is currently trading at $43.32, with a low of $42.59 in that timeframe.

Hyperliquid is one of the leading decentralized platforms for leveraged futures trading and operates on its proprietary blockchain, HyperEVM, which provides high speed and low fees.

It’s worth noting that on July 9, the Web3 wallet Phantom launched perpetual contract trading with the support of Hyperliquid.