Lighter: HYPE and ZEC experienced brief and intense fluctuations, resulting in a loss of approximately $482,000 for the trading robot

Lighter tweeted that a trading bot malfunctioned on July 25, briefly affecting the HYPE and ZEC markets. During the incident, the HYPE price reached $60.96 and $56.31 within half a minute, while the external trading price was around $58 at the same time, and then the price recovered within a minute. There were no forced liquidations across the market, and losses were limited to the accounts that triggered the issue.

The bot was launched with $500,000 in funds and traded $27 million back and forth on HYPE within 5 minutes, accounting for 74.2% of the market trading volume; it generated $220.8 million in order volume on ZEC, accounting for 86.7%, causing the ZEC price to briefly rise to $521. Lighter stated that the risk engine marked positions with fair prices to resist manipulation and rejected 801 orders when margin was insufficient. Ultimately, the bot incurred a loss of about $482,000, all from its own funds. Lighter's liquidity pool (LLP) earned about $143,000, and 40 independent accounts each made over $1,000 in profit.