Over the last 74 days we recorded 283 PENGU positions closed by the exchange across 237 separate accounts. Each one read back from the fills Hyperliquid itself marks as a liquidation — not inferred from positions that disappeared.
30 October 2026, 00:00 UTC: 24 PENGU positions were liquidated inside sixty minutes. Across the whole period, PENGU liquidations were spread over 54 different hours — so that single hour carried 8.5% of everything that happened to PENGU traders in 74 days.
95% of all PENGU liquidations landed in an hour when ten or more other assets were being liquidated at the same time. They are not independent accidents on one book; they are the local expression of something moving across the whole exchange at once.
This is the part that catches people. A stop-loss on PENGU reacts to PENGU. It cannot know that the move is market-wide, that the book is about to get thin, or that your other position is going at the same moment. We measured the wave: an ordinary hour on Hyperliquid touches 5.8 assets, a loaded one touches 21. The record hour touched 141.
Paste your address and you get told when it gets close to its liquidation price. It is a public address, so there is no key, no signature and no account involved — and watching stays free.
Check an addressWe do not see the whole exchange. These figures cover the accounts we re-read, which at any moment is a few percent of Hyperliquid's carried notional, and our reading order favours accounts already close to liquidation. Every count here is a floor, not a total. The live feed publishes its own coverage with every number.