DeFi Protocol Hypervault Vanishes with $3.6 Million in Crypto Assets

PeckShield reports $3.6 million withdrawn from Hypervault, raising rug pull suspicions.

PeckShield has reported suspicious withdrawals amounting to approximately $3.6 million from the decentralized finance platform Hypervault.

#PeckShieldAlert #Rugpull? We have detected an abnormal withdrawal of ~$3.6M worth of cryptos from @hypervaultfi.

The funds were bridged from #Hyperliquid to #Ethereum, swapped into $ETH, and then 752 $ETH was deposited into #TornadoCash. pic.twitter.com/mHQLPYXvzS

— PeckShieldAlert (@PeckShieldAlert) September 26, 2025

The assets were moved from Hyperliquid to the Ethereum network via a cross-chain bridge. They were later exchanged for Ether, with 752 ETH, valued at around $3 million, sent to Tornado Cash—a typical scenario in a rug pull.

Such a situation arises when a project’s team withdraws liquidity or user deposits and disappears, often following aggressive promotion of high returns and/or in the absence of a thorough audit.

The Hypervault website and platform documentation promoted “hands-free” auto-compounding, yield farming bots, and “adapters” for redirecting assets into lending protocols, cyclical strategies, and concentrated liquidity pools on HyperEVM.

Thus, user deposits were distributed across external services to implement complex income-generating approaches.

Meanwhile, the project’s account on X has been deleted, and the official website is inaccessible. These circumstances heighten suspicions of an exit scam.

Earlier, the crypto community suspected the “scam-proof” platform RugProof of fraud.