Crash

Restore

Oracle

Billion

Hyperliquid

<h3 id="what-to-know">What to know:</h3>
<ul>
 <li>Ventuals promises compensation after an Oracle error triggers hundreds of liquidations.</li>
 <li>SpaceX-linked perpetual contract crashed 45% before recovering most losses.</li>
 <li>Pre-IPO crypto markets face scrutiny following a major pricing disruption.</li>
</ul>
Ventuals said it will compensate affected users within 48 hours after a malfunction in its SpaceX-linked perpetual contract triggered hundreds of liquidations across Hyperliquid on Thursday. According to market data, the SPACEX-USDH contract plunged nearly 45% within 30 minutes, wiping out positions across 484 accounts and generating approximately $1.74 million in liquidations. 
<h2 id="oracle-error-triggers-liquidation-cascade">Oracle Error Triggers Liquidation Cascade</h2>
<a href="https://x.com/ventuals/status/2060113013898670248" rel="noopener noreferrer nofollow">According to Ventuals</a>, the disruption originated from incorrect data provided by an off-chain oracle source used in its pricing infrastructure. Consequently, the contract’s oracle and mark prices diverged significantly from expected levels, causing automatic liquidations across the market. 
During the volatility event, SPACEX-USDH fell from $2,277 to $1,254 before recovering to approximately $2,174. However, the rebound came only after hundreds of traders had already lost their positions. 
Ventuals acknowledged the issue publicly and stated that it had implemented safeguards across its pre-IPO markets to reduce the likelihood of similar incidents. Additionally, the company said it is reviewing affected accounts to determine appropriate compensation. The platform did not disclose the total amount that will be distributed. Nevertheless, it confirmed that impacted users will receive compensation within the next 48 hours. 
Also Read: <a href="https://36crypto.com/ripple-cto-emeritus-reacts-to-stunning-293-billion-bitcoin-power-grab/" rel="noopener noreferrer nofollow">Ripple CTO Emeritus Reacts to Stunning $293 Billion Bitcoin Power Grab</a> 
<div class="embed-x">
 <blockquote class="twitter-tweet">
 Quick update –&nbsp;affected users will be compensated within the next 48 hours. <a href="https://t.co/ulaHSGj1b3" rel="noopener noreferrer nofollow">https://t.co/ulaHSGj1b3</a> 
 — Ventuals (@ventuals) <a href="https://x.com/ventuals/status/2060113013898670248?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">May 28, 2026</a> 
 </blockquote>
</div>
<h2 id="pre-ipo-markets-face-increased-scrutiny">Pre-IPO Markets Face Increased Scrutiny</h2>
The incident has renewed attention on the growing market for tokenized pre-IPO exposure. Unlike traditional equity ownership, the SPACEX-USDH contract does not grant shares, voting rights, or shareholder privileges. Instead, it allows traders to speculate on perceived valuations of private companies through perpetual futures contracts. 
Besides the <a href="https://36crypto.com/elon-musks-spacex-holds-637m-bitcoin-ahead-of-massive-nasdaq-ipo/" rel="noopener noreferrer nofollow">SpaceX</a> product, Ventuals also offers contracts tied to other major private technology firms. Platform data shows Anthropic currently holds roughly $7.8 million in open interest, while OpenAI-related contracts account for approximately $3.34 million. 
Those figures highlight increasing demand for alternative exposure to private-market valuations. However, Thursday’s liquidation event demonstrated how heavily these products depend on accurate external pricing data. 
<h2 id="compensation-effort-aims-to-restore-confidence">Compensation Effort Aims to Restore Confidence</h2>
Ventuals now faces the challenge of rebuilding trader confidence while processing compensation claims. Moreover, the incident has intensified discussion around oracle reliability as pre-IPO crypto derivatives continue attracting greater market participation. 
As trading activity expands across these products, market participants will likely pay closer attention to the safeguards supporting the pricing systems that underpin them. 
Also Read: <a href="https://36crypto.com/ethereum-faces-critical-weekly-close-as-1850-support-comes-into-focus/" rel="noopener noreferrer nofollow">Ethereum Faces Critical Weekly Close as $1,850 Support Comes Into Focus</a> 
The post <a href="https://36crypto.com/ventuals-promises-user-compensation-after-spacex-contract-crash-triggers-mass-liquidations/" rel="noopener noreferrer nofollow">Ventuals Promises User Compensation After SpaceX Contract Crash Triggers Mass Liquidations</a> appeared first on <a href="https://36crypto.com" rel="noopener noreferrer nofollow">36Crypto</a>.

Ventuals Promises User Compensation After SpaceX Contract Crash Triggers Mass Liquidations

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