At approximately 16:00 Eve time, a Wyvern belonging to Shadow of xXDEATHXx was ambushed by a group of nullsec alliances. The Wyvern pilot sounded a call for backup, which was responded to with considerable force. Numerous supers and capitals were brought in to save the besieged Wyvern, but have so far instead been largely obliterated by the attackers.
As of 17:00 Eve time, five supercarriers, two force auxiliaries, four carriers, and one dreadnought have been lost by the defenders, who have taken down only seven dreadnoughts in exchange. The battle toll has risen to over 200 billion ISK, with over 170 billion lost by xXDEATHXx and their allies.
It is unclear whether or not the battle is still in progress as additional supers are potentially still on grid.
The ongoing battle report can be viewed here.