According to the news from the Shenchao TechFlow, on March 13, Bybit CEO Ben Zhou posted an analysis on the X platform that the recent large-scale clearing of giant whale ETH positions on the Hyperliquid platform is actually a trader who intends to use the clearing mechanism to exit the market. The trader held approximately $300 million in ETH long positions (approximately $15 million in margin) under 50 times leverage, pushing high-definition prices by withdrawing floating profits and losses, and then triggering liquidation to hand over the entire position to the platform for processing, thus avoiding huge slippage caused by market orders. Ben Zhou pointed out that both DEX and CEX face similar challenges, with Hyperliquid reducing overall leverage (Bitcoin dropped to 40 times and Ethereum dropped to 25 times) as a response. He suggested that DEX may consider implementing a dynamic risk restriction mechanism, gradually reduce the leverage ratio as the position increases, or introduce CEX-level risk control measures, such as market monitoring, open contract restrictions, etc. Even under the current reduced leverage ratio, Hyperliquid may still be abused unless leverage is further reduced or stricter risk control measures are introduced, Ben Zhou said.