Concerns Arise Over Potential Hyperliquid Breach

Several users on X have noted that wallets linked to North Korean hackers are actively trading on the DEX Hyperliquid. Among those commenting was MetaMask wallet developer Taylor Monahan.

DPRK’s trading career is…uh….going…..?

tbh if i was the dude managing Hyperliquid’s 4 validators (or those fucking ghetto ass binaries on gh) I would be shitting my pants right now.

Hyperliquid dudes dont seem worried at all though so im sure its fine. ? pic.twitter.com/JrrU7t1sJe

— Tay ? (@tayvano_) December 22, 2024

According to her calculations, the total losses from these transactions exceeded $700,000.

The community speculated that cybercriminals have targeted Hyperliquid as a potential victim and are conducting transactions to test the system’s stability. The primary concern is the hackers’ ability to gain control over the majority of validators, akin to the Axie Infinity breach.

Hyperliquid’s team is probably North Korea’s biggest target right now.

$2B custodied by a 3/4 validator set.

Not a black swan if it gets drained IMO.
Study Axie infinity “hack” https://t.co/tL312iVEH8 https://t.co/19iN95J7oT

— Santisa (@Tiza4ThePeople) December 16, 2024

Later, Monahan, citing Hyperliquid holders, reported that the only supported network, Arbitrum, is supposedly set to “roll back” in the event of a platform breach.

Muting this shit now.

HL hodlers convinced me it’s fine because Arbitrum will roll back if HL gets hacked. ?

Really though this isn’t a thing that is up for debate lol. We are well past that fucking point.

HL either acts to harden their system. Or they dont.

(Please do ?)

— Tay ? (@tayvano_) December 23, 2024

Nonetheless, she urged the project to protect the system by all possible means.

Representatives of Hyperliquid have not commented on the situation.

At the time of writing, the total value locked on the platform exceeds $1.8 billion, according to DeFi Llama.

In late November, Hyperliquid launched its native token HYPE, which tripled in value within five days. By mid-December, the influx of USDC to the exchange following the airdrop reached $1 billion.