Lighter: HYPE and ZEC experienced brief and sharp price fluctuations, with a certain bot account losing approximately $482,000.

Foresight News reported that Lighter tweeted that a certain trading bot malfunctioned on July 25, briefly affecting the HYPE and ZEC markets. The HYPE price hit $60.96 and $56.31 within half a minute (while the external trading price was around $58 at the same time). The price subsequently recovered within a minute, with no forced liquidations across the entire market; losses were limited to the account that triggered the issue.

The bot account was started with $500,000 in funds and executed $27 million in round-trip trades on HYPE within 5 minutes (accounting for 74.2% of market trading volume). On ZEC, it created $220.8 million in taker volume (accounting for 86.7%), causing the ZEC price to briefly surge to $521. The risk engine used an anti-manipulation fair price to mark positions and rejected 801 orders due to insufficient margin. The bot ultimately lost about $482,000 (all self-funded). The LLP (Lighter Liquidity Pool) earned about $143,000, and 40 independent accounts each made more than $1,000 in profit.