{"id":89776,"date":"2025-10-10T10:02:02","date_gmt":"2025-10-10T07:02:02","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=89776"},"modified":"2025-10-10T10:05:14","modified_gmt":"2025-10-10T07:05:14","slug":"crypto-investor-loses-20-million-after-closing-long-position-on-hyperliquid","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/crypto-investor-loses-20-million-after-closing-long-position-on-hyperliquid\/","title":{"rendered":"Crypto Investor Loses $20 Million After Closing Long Position on Hyperliquid"},"content":{"rendered":"<p>A user of <a href=\"https:\/\/forklog.com\/en\/news\/the-price-of-popularity-and-a-lesson-for-all-hyperliquid\">Hyperliquid<\/a> closed a long position on HYPE worth $16 million and sold 100,000 coins for $4.4 million. Analysts at MLM suggested he may have been hacked.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">This wallet closed a $16M HYPE long and sold 100K HYPE ($4.4M) about 11 hours ago: <br \/> <a href=\"https:\/\/t.co\/ySlqJIRzQc\">https:\/\/t.co\/ySlqJIRzQc<\/a> <\/p>\n<p>The reason seems to be that his private key was compromised \u2014 resulting in a total wipeout: roughly $17M lost from his Hyperliquid account and another $3.1M that was\u2026<\/p>\n<p>\u2014 MLM (@mlmabc) <a href=\"https:\/\/twitter.com\/mlmabc\/status\/1976269871814987990?ref_src=twsrc%5Etfw\">October 9, 2025<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The cause might have been the compromise of a private key due to <a href=\"https:\/\/forklog.com\/en\/news\/web3-phishing-how-to-protect-yourself-and-your-assets\">phishing<\/a> or malware. The crypto investor&#8217;s account was left empty.<\/p>\n<p>The acquired assets have already been converted into stablecoins <a href=\"https:\/\/forklog.com\/en\/news\/what-is-the-usdc-stablecoin\">USDC<\/a> and <a href=\"https:\/\/forklog.com\/en\/news\/what-are-makerdao-mkr-and-the-dai-stablecoin\">DAI<\/a> and distributed across several wallets in the Ethereum and <a href=\"https:\/\/forklog.com\/en\/news\/what-is-arbitrum\">Arbitrum<\/a> networks.<\/p>\n<p>In addition to the funds on Hyperliquid, the suspected perpetrator also withdrew $3.1 million from the <a href=\"https:\/\/forklog.com\/en\/news\/what-are-liquidity-pools-and-how-do-they-work\">Plasma Syrup Vault liquidity pool<\/a>. This amount in MSYRUPUSDP tokens was moved to a new address.<\/p>\n<p>A user known as Luke Cannon noted that the victim might have lost another $300,000 through related wallets, which the hacker also accessed.<\/p>\n<blockquote class=\"twitter-tweet\" data-conversation=\"none\">\n<p lang=\"en\" dir=\"ltr\">Looks like they were drained on this wallet as well for another ~$300k on mainnet:<a href=\"https:\/\/t.co\/SMs8U34TNc\">https:\/\/t.co\/SMs8U34TNc<\/a><\/p>\n<p>\u2014 Luke Cannon (@lukecannon727) <a href=\"https:\/\/twitter.com\/lukecannon727\/status\/1976283867528192361?ref_src=twsrc%5Etfw\">October 9, 2025<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>A user with the pseudonym BRVX <a href=\"https:\/\/x.com\/TradeThreads\/status\/1976322085384589355\">shared<\/a> that he lost $700,000 in HYPE in a similar manner a month earlier. He did not understand how he was hacked:<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>\u201cThere was no malicious <span data-descr=\"software\" class=\"old_tooltip\">software<\/span>, no Discord chats, no Telegram calls, or suspicious email downloads. I was using a Windows computer. I hadn&#8217;t touched the wallets for at least a week before the hack. I also have a new Mac, but I haven&#8217;t installed a wallet on it yet.\u201d<\/em><\/p>\n<\/blockquote>\n<p>Back in August, scammers <a href=\"https:\/\/forklog.com\/en\/news\/bitcoin-investor-defrauded-of-91-million\">swindled<\/a> $91 million from a Bitcoin investor using social engineering. In early September, a user of the Venus lending platform on BNB Chain <a href=\"https:\/\/forklog.com\/en\/news\/phishing-drains-27m-from-venus-user\">lost<\/a> assets worth about $27 million due to a phishing attack.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A Hyperliquid user closed a $16M HYPE long and sold 100,000 coins for $4.4M. MLM analysts suggested a hack.<\/p>\n","protected":false},"author":1,"featured_media":89777,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"A hack may have been the cause.","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1823,1246],"class_list":["post-89776","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-hyperliquid","tag-scammers"],"aioseo_notices":[],"amp_enabled":true,"views":"162","promo_type":"1","layout_type":"1","short_excerpt":"A hack may have been the cause.","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/89776","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=89776"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/89776\/revisions"}],"predecessor-version":[{"id":89778,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/89776\/revisions\/89778"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/89777"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=89776"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=89776"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=89776"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}