Is it true that major CEXs are hiding ~100x more liquidations than reported?

[news source: Thesis_io]

Jeff Yan - Hyperliquid CEO's explosive claims about centralized exchanges dramatically underreporting liquidations have sent shockwaves through crypto markets.

The smoking gun: Binance's own API docs reveal they only push "the latest one liquidation order within 1000ms."

→ If thousands of traders get liquidated in the same second, only ONE shows up in public data.

If liquidation data is understated by 10-100x, everyone retail traders, institutions, regulators) is operating with fundamentally flawed risk assumptions.

What do you think?