Hyperliquid: No attacks by North Korean hackers, user funds are properly handled

PANews reported on December 24 that according to Bloomberg, the crypto derivatives trading platform Hyperliquid suffered its largest single-day fund outflow in history as traders worried about North Korean hackers trading on the exchange and rushed to withdraw cash. Taylor Monahan, a security expert at digital wallet provider MetaMask, said digital wallets linked to the hacks began trading on Hyperliquid as early as October. On Monday, she shared the addresses of the suspicious wallets and their activity on social media platform X. Monahan pointed out that transactions are often a way for North Korean hackers to test potential security vulnerabilities in platforms such as Hyperliquid.

Hyperliquid’s core development team said in a statement: “Hyperliquid Labs is aware of reports of alleged North Korean address activity and Hyperliquid has not been exploited by North Korea or any other party. All user funds are properly handled. "

Monahan's post sparked widespread discussion on social media, with some Hyperliquid supporters criticizing her for creating unnecessary panic. More than $112 million in stablecoin USDC flowed out of the exchange on Monday, according to data compiled by venture capital fund Hashed on Dune Analytics. According to data from tracking platform CoinGecko, the price of the exchange’s token HYPE fell by 20%.