A malfunctioning trading bot briefly overwhelmed Lighter’s HYPE and ZEC markets, causing 482,000 dollars in losses. Within five minutes, the bot executed 27 million dollars in HYPE trades, representing 74.2% of total volume, pushing the token price from 56.31 to 60.96 dollars. On the Zcash market, the bot traded 220.8 million dollars, accounting for 86.7% of activity, driving the ZEC price from 478 to 521 dollars. No liquidations were triggered thanks to Lighter’s risk engine, which uses a fair price value instead of the last traded price for margin calls. Liquidity providers were the main beneficiaries of this incident, with Lighter’s liquidity pool capturing approximately 143,000 dollars.
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