Hyperliquid denies exploitation, but concerns over North Korean hackers lead to millions in withdrawals

Recently, the decentralized perpetual trading platform Hyperliquid found itself at the center of a controversy that caused great concern among its users: suspected activity by hackers linked to North Korea on the platform. This concern led to a massive wave of withdrawals, with amounts reaching millions of dollars even though the platform denied that there was any exploitation.

Second data According to data released by Dune Analytics, Hyperliquid recorded net outflows of USDC (a US dollar-backed stablecoin) of US$249,1 million in just one day, followed by another US$22,2 million in net withdrawals the following day. These impressive numbers demonstrate the level of concern and the rapid reaction of users to the possibility of an attack.

O alert was provided by Taylor Monahan, a security expert at Metamask, who identified 12 active blockchain addresses on Hyperliquid and associated them with cyber actors backed by the Democratic People’s Republic of Korea (DPRK). Analysis of the dates revealed that one of these addresses had been active on the platform since October. This information heightened fears that the platform could be the target of a coordinated attack. Monahan expressed his concerns in a series of posts on the X platform (formerly Twitter), revealing that he offered help to Hyperliquid to strengthen the platform's security against possible North Korean attacks.

Hyperliquid is positioned on the subject on Discord, highlighting that no signs of exploitation were detected.

“There has been no exploitation of the DPRK — or any exploitation, for that matter — by Hyperliquid,” the platform said. “All user funds are accounted for. Hyperliquid Labs takes opsec seriously. No vulnerabilities have been shared by any party,” it added.

At the time of publication, Hyperliquid was trading at $27,98, up 1.3% in the last 24 hours.

Hyperliquid (HYPE) trading volume was $458.264.951 in the last 24 hours, representing a 36,60% drop from a day ago and signaling a recent drop in market activity.

The cryptocurrency Hyperliquid (HYPE), is quickly gaining attention in the market. HYPE is a newly launched token that enables secure and low-cost payments through direct transactions, without intermediaries. The Hyperliquid project stands out for its innovative approach and for offering advantages to users. Recently, the token underwent a significant airdrop, attracting many investors and generating an increase in its value.