A newly created wallet executed a TWAP short on EdgeX over the weekend that moved the Nasdaq 100–linked perpetual contract XYZ100 down roughly 3.5–4%, causing about $13M in long liquidations. The 398-contract (~$10M notional) order led to cascading liquidations, including individual trader losses of $7.4M and $2.7M, highlighting manipulation and elevated liquidity risk when trading tokenized equity perps outside regular market hours. EdgeX handled roughly $167B in perp volume last month, underlining growing demand for such products alongside off-hours vulnerability.

A newly created wallet executed a TWAP short that moved the Nasdaq-100 perp XYZ100 down ~3.5–4%, directly causing ~$13M in long liquidations and large individual trader losses ($7.4M and $2.7M); this is concrete, tradeable information and demonstrates elevated off-hours liquidity/manipulation risk on EdgeX.