Trading Bot Glitch on Lighter Causes HYPE and ZEC Volatility, Incurs $482K Loss on July 25

LIT10.33%
HYPE2.08%
ZEC2.01%
According to Lighter, a trading bot malfunctioned on July 25, causing brief sharp price swings in HYPE and ZEC markets. HYPE touched $60.96 and $56.31 within 30 seconds while external prices hovered near $58, recovering within one minute. The bot, launched with $500K capital, executed $27 million in HYPE trades (74.2% of market volume) and generated $220.8 million in ZEC order flow (86.7% of volume), briefly pushing ZEC to $521. Lighter's risk engine rejected 801 orders and marked positions using anti-manipulation pricing. The bot sustained approximately $482K in losses from its own funds. Lighter's liquidity pool (LLP) gained $143K, while 40 independent accounts each profited over $1,000.
Disclaimer: The information on this page may come from third-party sources and is for reference only. It does not represent the views or opinions of Gate and does not constitute any financial, investment, or legal advice. Virtual asset trading involves high risk. Please do not rely solely on the information on this page when making decisions. For details, see the Disclaimer.
Comment
0/400
No comments