Seismograph by Cryptograph Club

Liquidation wave · Closed

$10.0M on-chain liquidation wave, 28 May 2026

Magnitude M 4.0 on-chain, scale v1
Liquidated $10.0M USD at the block
Busiest hour $7.8M to 28 May 2026, 04:10 UTC

Liquidations on Morpho Blue, GMX v2, Aave v3, Spark, Aave v4 and Compound v3 (Base, Arbitrum and Ethereum) totalled $10.0M between 03:10 and 06:35 UTC on 28 May 2026. The busiest hour saw $7.8M. 678 positions were liquidated. 1 liquidation could not be valued and is not included.

Timeline

$0$2.0M$4.0M$6.0M28 May 02:10–02:15 UTC: $002:1028 May 02:15–02:20 UTC: $028 May 02:20–02:25 UTC: $028 May 02:25–02:30 UTC: $13K28 May 02:30–02:35 UTC: $028 May 02:35–02:40 UTC: $19628 May 02:40–02:45 UTC: $7K28 May 02:45–02:50 UTC: $028 May 02:50–02:55 UTC: $93202:5028 May 02:55–03:00 UTC: $028 May 03:00–03:05 UTC: $6K28 May 03:05–03:10 UTC: $83728 May 03:10–03:15 UTC: $54K28 May 03:15–03:20 UTC: $4.5M28 May 03:20–03:25 UTC: $1828 May 03:25–03:30 UTC: $128 May 03:30–03:35 UTC: $303:3028 May 03:35–03:40 UTC: $247K28 May 03:40–03:45 UTC: $17K28 May 03:45–03:50 UTC: $2K28 May 03:50–03:55 UTC: $881K28 May 03:55–04:00 UTC: $171K28 May 04:00–04:05 UTC: $1.9M28 May 04:05–04:10 UTC: $7K28 May 04:10–04:15 UTC: $004:1028 May 04:15–04:20 UTC: $641K28 May 04:20–04:25 UTC: $750K28 May 04:25–04:30 UTC: $028 May 04:30–04:35 UTC: $028 May 04:35–04:40 UTC: $028 May 04:40–04:45 UTC: $1K28 May 04:45–04:50 UTC: $028 May 04:50–04:55 UTC: $004:5028 May 04:55–05:00 UTC: $028 May 05:00–05:05 UTC: $56328 May 05:05–05:10 UTC: $43128 May 05:10–05:15 UTC: $5828 May 05:15–05:20 UTC: $18K28 May 05:20–05:25 UTC: $028 May 05:25–05:30 UTC: $336K28 May 05:30–05:35 UTC: $005:3028 May 05:35–05:40 UTC: $028 May 05:40–05:45 UTC: $52328 May 05:45–05:50 UTC: $15K28 May 05:50–05:55 UTC: $028 May 05:55–06:00 UTC: $2K28 May 06:00–06:05 UTC: $028 May 06:05–06:10 UTC: $328K28 May 06:10–06:15 UTC: $006:1028 May 06:15–06:20 UTC: $028 May 06:20–06:25 UTC: $028 May 06:25–06:30 UTC: $028 May 06:30–06:35 UTC: $181K28 May 06:35–06:40 UTC: $11K28 May 06:40–06:45 UTC: $028 May 06:45–06:50 UTC: $028 May 06:50–06:55 UTC: $006:5028 May 06:55–07:00 UTC: $028 May 07:00–07:05 UTC: $028 May 07:05–07:10 UTC: $128 May 07:10–07:15 UTC: $27K28 May 07:15–07:20 UTC: $028 May 07:20–07:25 UTC: $20K28 May 07:25–07:30 UTC: $028 May 07:30–07:35 UTC: $28K07:30

All covered venues, with an hour before and after the wave for comparison.

Facts

Started
28 May 2026, 03:10 UTC
Peak
5 minutes from 28 May 2026, 03:15 UTC
Ended
28 May 2026, 06:35 UTC
Duration
3 h 25 min
Positions liquidated
678 (678 liquidation events)
Normal level
Median hourly total $16K, 95th percentile $295K, over the 30 days before the day it started
Not valued
1 liquidation could not be valued and is not included
Coverage
On-chain DeFi venues only; verified automatically from the blockchain
By venue
ValuedShare
Morpho Blue$4.6M46%
GMX v2$3.3M33%
Aave v3$1.8M18%
Spark$251K2%
Aave v4$52K<1%
Compound v3$4K<1%
By chain
ValuedShare
Base$4.6M46%
Arbitrum$3.4M33%
Ethereum$2.1M21%
By asset
ValuedShare
Bitcoin$4.2M42%
Ethereum$4.2M42%
Other$1.6M16%
Stablecoins$1K<1%

Sources

The largest transactions in the wave, on the chain's block explorer
TransactionVenueValue
0xacfee97f…03569d GMX v2 (Arbitrum) $1.7M
0x05a0cf96…c3b267 Morpho Blue (Base) $678K
0x1a4b5ff9…a9b014 Morpho Blue (Base) $674K
0x927a7a32…b55558 Morpho Blue (Base) $638K
0xc280f2cf…4a1b1d Morpho Blue (Base) $463K
0x902128de…804474 Aave v3 (Ethereum) $449K
0x63fd5203…af2d29 Aave v3 (Ethereum) $392K
0x606d8ab4…e5cf1e GMX v2 (Arbitrum) $336K
0x71b5d386…7ca761 Aave v3 (Ethereum) $328K
0xbf62dd85…f3c588 Morpho Blue (Base) $317K

Values are in USD at the block of each liquidation, from on-chain prices. On-chain liquidation magnitudes measure DeFi venues only and are not yet comparable with hack or depeg magnitudes. Methodology · The magnitude scale