EL7.AI
CryptoUpdated•Originally published 29 May 2026•Updated 29 May 2026•
1 min read

Hyperliquid to Compensate Traders After SpaceX Perps Crash 45% on Oracle Glitch

Key Facts

1SPACEX-USDH perpetual contracts crashed 45% on Hyperliquid due to faulty data from the Notice.co oracle.
2The technical error triggered liquidations for 405 users, resulting in total losses of $1.51 million.
3The glitch was caused by the oracle mishandling a 5-for-1 stock split for SpaceX.

In a move highlighting the risks of oracle dependency in decentralized markets, Ventuals has moved to compensate traders following a technical failure in SpaceX contracts. According to reports, SPACEX-USDH perpetual contracts plunged 45% on the Hyperliquid platform due to faulty data from the Notice.co oracle, triggering liquidations for 405 users with total losses reaching $1.51 million. The glitch stemmed from the oracle mishandling a 5-for-1 stock split for SpaceX, which fed an artificial price drop into the trading engine.

This incident occurs amid heightened scrutiny of Pre-IPO perpetual markets, where the accuracy of oracles bridging traditional equity events to DeFi is critical. The $1.51 million loss is significant for a localized market like Ventuals, particularly as the crash was not driven by market sentiment but by a failure to adjust for corporate actions. Per market data, such technical failures often lead to temporary capital outflows as traders reassess the reliability of single-source price feeds in decentralized environments.

Key upcoming catalysts include the Fed Waller speech scheduled for later today, which may impact broader crypto market risk appetite. Liquidity levels in Pre-IPO instruments remain a vital metric to watch to prevent further flash-crash scenarios caused by technical discrepancies.