Overview

• Between 14:10 and 14:47 UTC on July 29, Hyperliquid’s API servers overloaded from a traffic spike, halting all front-end trading.
• The team confirmed there was no hack or exploit and blamed the outage solely on the surge in API requests.
• Despite the front-end failure, the underlying DEX and layer-1 blockchain continued producing blocks uninterrupted.
• Following the outage, the HYPE token dropped roughly 5% from $45 to a low near $42.50 and remains slightly lower.
• Hyperliquid is upgrading its monitoring systems to prevent future disruptions and will automatically refund users affected by the downtime.