HyperLiquid Under Alert: Hacker Activity Raises Concerns, $60 Million Withdrawn from Platform
In a recent move, the perpetual trading platform HyperLiquid has found itself in the spotlight after suspicious activity linked to North Korean hacking groups was detected. The situation has prompted a preemptive withdrawal movement, with around $60 million in USDC being withdrawn from the platform by apprehensive users.
The Hyperliquid (HYPE) cryptocurrency 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 a surge in its value.
But what exactly happened to Hyperliquid? Over the weekend, wallet addresses associated with North Korean hackers began trading in HyperLiquid. While this may seem like a common market move at first glance, cybersecurity experts familiar with the tactics of these groups are warning that it could be a reconnaissance strategy. An X (formerly Twitter) user known as Tay, who has expertise in cybersecurity and the activities of hacker groups in the Democratic People’s Republic of Korea (DPRK), has launched a alert crucial: “The DPRK does not negotiate. The DPRK tests.”
This observation suggests that the trades, which resulted in a loss of $700.000, were not aimed at immediate profit, but rather at familiarizing oneself with the platform and searching for potential vulnerabilities. Tay’s analysis raises an additional concern about HyperLiquid’s infrastructure. According to him, HyperLiquid’s Layer-1 layer has only four validators, which are accessible with a simple line of code, provided that attackers access “zero days” (unknown vulnerabilities).
The possibility of exploiting these vulnerabilities is what led to the massive withdrawal of USDC from the platform, affecting the price of the cryptocurrency. The recently launched HYPE has seen a dizzying increase in recent days, increasing in value by 113.2% in two weeks.
At the time of publication, the price of HyperLiquid (HYPE) is trading at $27,46, down 19.7% in the last 24 hours. Yesterday, the cryptocurrency reached a new high price of $34,96, but has since seen its value plummet to a low of $25,77. In comparison, the current price is 20,27% lower than its all-time high.
Hyperliquid (HYPE) trading volume is $720.152.875 in the last 24 hours, representing a 75,00% increase from a day ago and signaling a recent surge in market activity.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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