On March 12, according to official data, Hyperliquid treasury (Hyperliquidity Provider) lost more than 4 million US dollars in a short time, or due to "Hyperliquid 50 times leverage giant whale active liquidation" 160,000 ETH. This 160,000 ETH ($306 million) multi-order at $1,915 position squaring, was taken over by Hyperliquid treasury to complete the liquidation, due to the huge amount, position squaring process ETH continue to fall will produce losses, this part of the loss has been borne by HLP.