Bloomberg reports that cryptocurrency derivatives exchange Hyperliquid has suffered a massive outflow of funds of over $112 million following warnings about the possible presence of North Korean hackers on the platform.
The alarm was raised by MetaMask security expert Taylor Monahan, who discovered suspicious activity on wallets that could be linked to the DPRK. According to her, hackers could be using the platform to test vulnerabilities, which caused panic among exchange users.
Despite Hyperliquid’s assurances that there were no hacks and that users’ funds were safe, the HYPE token has lost 20% of its value. The situation is exacerbated by the fact that the exchange’s blockchain software is managed by a closed group of developers, which contradicts the principles of full decentralization.
Despite the scandal, Hyperliquid maintains its leadership position in the field of decentralized finance, demonstrating exceptional performance: the average daily trading volume last week was $8.8 billion, and the exchange recently set a record of $15 billion in a day.
The incident has split the crypto community into two camps: some criticize Monahan for premature conclusions, while others support her vigilance in identifying potential threats to the platform's security.
$HYPE