According to @KookCapitalLLC, Hyperliquid exchange experienced a backend outage, but there is no evidence of a hack. The official statement claims the backend is just down, and no funds have been reported compromised as of now. Traders are advised to monitor the platform's status for updates and adjust positions accordingly to manage risk. Source: @KookCapitalLLC.

According to Daniel Oon (@EauDoon) on Twitter, a significant user surge led to a trading platform outage, temporarily halting crypto trades and impacting liquidity for major assets such as Bitcoin and select altcoins (source: https://twitter.com/EauDoon/status/1927766157961879693). This disruption may cause short-term volatility and widened spreads, emphasizing the importance of risk management strategies for active traders. Users are advised to monitor exchange status updates and consider alternative trading venues during outages.