Will CEX exchanges have such a mechanism?
CEX (centralized exchange) also has a similar liquidation mechanism, but usually does not directly adopt a takeover model like Hyperliquid Vault, but uses the following methods to handle liquidated positions:
① Forced Liquidation
When the user's margin is insufficient, the exchange will immediately sell (or buy) the user's position in the market to repay the required margin.
This method may cause severe slippage, especially when the market depth is insufficient, which may trigger "chain liquidation" or "pin insertion".

② Insurance Fund
The insurance fund is a mechanism for CEX to provide a buffer for the liquidation process, which is used to fill the irreparable losses of users after liquidation and avoid systemic risks.
Binance, OKX, Bybit and other exchanges have their own insurance funds.