Today, HYPE is in big trouble! Since its launch, it has experienced its largest retracement, with an intraday drop of over 20%!
As of 14:00 Beijing time, the price of HYPE has dropped to 26.21 USDT, a significant decline compared to yesterday.
However, this drop seems to be more than just a simple market adjustment.
Noted security researcher Tay (@tayvano_) issued a warning that multiple North Korean hacker addresses have recently been trading on Hyperliquid, with losses exceeding $700,000!
This has caused many to worry that North Korean hackers may be targeting Hyperliquid, trying to identify system vulnerabilities through test transactions.
Although HYPE has not currently suffered an attack, Tay mentioned on social media, 'If I were one of the validators of Hyperliquid, I might be too scared to move right now!' It seems that the activities of North Korean hackers have raised alarm bells for many, as they do not easily let go of any valuable targets.
Tay's message sparked a significant discussion within the community, with some even suggesting that Hyperliquid's validation system might be the weakest link at present.
More seriously, Hyperliquid's bridging contract reportedly contains $2.3 billion in USDC. If the validators are indeed hacked, the hackers could potentially steal these funds by controlling most of the validators.
Don’t underestimate this as just a technical issue; the funds involved could be substantial, and even the defenses of Circle and Arbitrum may need to be involved to prevent losses.
However, many people are skeptical about Tay's warning, believing it may just be a publicity stunt. After all, North Korean hackers tend to target high-value projects, and Tay is connected to Consensys, which may indicate ulterior motives.
At the same time, some people support Tay, believing his warning is very important, as such hacker attacks could significantly impact the entire cryptocurrency market.
In any case, the recent fluctuations of Hyperliquid have served as a warning to everyone. Although the project has not yet faced a real attack, this incident has exposed its security and system vulnerabilities, leading everyone to reevaluate its potential and risks.
For this industry, this may also serve as a 'touchstone'; Hyperliquid's future performance could determine whether it can get back on track and continue to attract investors' attention.
