PANews reported on March 12 that Hyperliquid posted on the X platform: "Regarding the comments and questions about the Ethereum long position of user 0xf3f4, we hereby clarify that no protocol vulnerability exploitation or hacker attack occurred. The user had unrealized profit and loss (PNL), and then withdrew cash, which caused his margin to drop and the position was eventually forced to close. His final profit and loss was about $1.8 million. In the past 24 hours, HLP lost about $4 million. HLP's historical total profit and loss remains at about $60 million. It should be reminded that HLP is not a risk-free strategy. We will update the maximum leverage of Bitcoin and Ethereum to 40x and 25x, respectively, to increase the maintenance margin requirements for large positions. This will provide a better buffer for the backup forced liquidation of large positions."