Data: XPL flash crash caused Hyperliquid HLP treasury to lose approximately 556,000 USD, 12 wallets withdrew margin in advance

According to on-chain data monitoring, the flash crash of XPL price caused Hyperliquid's HLP treasury to incur a loss of approximately $556,000.

Previously, 16 wallets funded through centralized exchanges had been continuously building long positions in XPL since October 29, holding a total of about 269 million XPL, with a nominal exposure of approximately $23 million. Among them, the funds of 14 wallets were transferred from Binance about two months ago, with 12 wallets withdrawing approximately 2.02 million USDC before the price drop to reduce margin exposure.

As XPL rapidly fell from $0.086431 to $0.069429, it triggered a chain liquidation of long positions. After the liquidation, the HLP treasury passively took over approximately 160.39 million XPL long positions, with an average holding cost of $0.07592, and a nominal value of about $12.18 million. The HLP treasury ultimately closed at $0.0725, recording a loss of approximately $556,000.