SK Hynix Perpetual Contract Drops 18% After Price Anomaly

Published by

Nidhi Kolhapur

July 28, 2026

A teal and black Hyperliquid token floating above a school of swimming sharks.

A Hyperliquid perpetual contract tied to SK Hynix briefly plunged 17.9% after an unusual pre-market trade in South Korea’s NXT market incorrectly priced a SK Hynix share at KRW 1.272 million. The move triggered a trading halt in the underlying market, while the Hyperliquid contract followed the price through its oracle before recovering alongside Binance markets. Hyperliquid said the contract was deployed by third-party team XYZ, which is investigating the incident under the platform’s HIP-3 framework.

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