On March 12, Hyperliquid issued a post on the social platform stating that "Hyperliquid's 50 times leveraged giant whale (0xf3f4 users) ETH long position: First of all, it is clear: no protocol loopholes or hacking occurred." The user held unrealized profit or loss (PNL) and made a withdrawal, resulting in a reduction in the margin, which was subsequently liquidated. In the end, the user made a profit of approximately $1.8 million, while HLP lost approximately $4 million in the past 24 hours. Currently, the historical cumulative PNL of HLP still remains at approximately US$60 million. Please note that HLP is not a risk-free strategy. In order to increase the margin maintenance requirements for large positions, we will adjust the maximum leverage of BTC and ETH to 40 times and 25 times respectively. This will provide a better buffer for the retreat and liquidation of large positions.