HYPE and ZEC Briefly Disrupted by Trading Bot Fault on July 25

Lighter said a trading bot malfunctioned on July 25 and briefly affected the HYPE and ZEC markets. According to Foresight News, HYPE traded between $60.96 and $56.31 within 30 seconds, while external trading prices were near $58. The price recovered within one minute, and no forced liquidations occurred across the market. The account behind the bot started with $500,000 and completed $27 million in round-trip trading on HYPE within five minutes, accounting for 74.2% of market volume. On ZEC, it generated $220.8 million in taker volume, or 86.7% of the market, and briefly pushed the price to $521. The risk engine marked positions using anti-manipulation fair prices and rejected 801 orders when margin was insufficient. The bot ultimately lost about $482,000, all from its own funds. Lighter’s liquidity pool earned about $143,000, and 40 separate accounts each made more than $1,000.