PANews reported on October 9 that according to The Block, the decentralized perpetual exchange Hyperliquid released an incident report explaining why its cross-chain bridge was paralyzed on Monday. According to anonymous developer iliensinc, there was an "extremely rare edge case" in which multiple RPCs (remote procedure calls) received incorrect data. The bridge between Hyperledger and Arbitrum, Ethereum's second largest Layer 2 network, was down for about four hours after the bridge validators voted for an emergency lock. About an hour after reopening, there was a second lock that lasted for several minutes.

"The Arbitrum bridge was locked earlier today due to an automated monitoring process run by L1 (in this case Hyperliquid) validators. This process relies on multiple primary Arbitrum RPCs and ensures that L1 is in sync with Arbitrum's state," iliensinc wrote on Discord. According to Hyperliquid's documentation, only two validators need to vote to lock the protocol in an emergency like this, although all four running validators voted to temporarily shut down the bridge. Iliensinc noted that the locking mechanism is a "last resort to prevent vulnerabilities" and is intended to protect user funds, otherwise "the consequences will be worse than occasional downtime."

They added: “We are improving our monitoring processes to prevent the same false positives in the future. All user funds are safe.”