According to CoinMeta, early this morning, long positions on ETH associated with two accounts believed to belong to the same entity on hyperliquid were forcibly liquidated, resulting in a total settlement amount of approximately $118 million and trading losses of about $27.18 million. HLP took over about $87.27 million of these positions and sold them after a rebound, making a profit of around $1.975 million. During the same period, the price of ETH on hyperliquid fell by nearly 5% within 1 minute. The associated account network still retains considerable long positions on BTC and ETH, and the account's margin buffer is limited.