$60 million withdrawn from HyperLiquid over North Korean hacker fears
An estimated $60 million worth of USDC was removed from the HyperLiquid trading platform after wallet addresses linked to North Korean hackers began trading on the platform.
At the time of writing, USD $60 million has been removed from the HyperLiquid Eternal trading platform due to fears that North Korea-linked wallet activity will precede attacks.
Wallets linked to North Korean hacking groups began trading on the Perp trading platform over the weekend.
An X user named Tai, who is well-versed in cyber security and the activities of DPRK (Democratic People's Republic of Korea) hacking groups, said, “The DPRK does not trade. DPRK Experiments” These trades (despite losses) were made to introduce hackers to the HyperLiquid platform.
lol @ The danger is forcing you to stay away from USG HyperLiquid.
Yall, DPRK doesn't trade. DPRK experiments.🤦♀️
— Tay 💖 (@tayvano_) December 22, 2024
Vulnerabilities of HyperLiquid
According to Tai, the HyperLiquid layer-1, blockchain and EVM layer that powers the exchange currently has 4 validators that can be accessed with a single line of code, as long as hackers get their hands on it in “0 days”.
My offer 2 weeks ago @HyperliquidX still stands.
I'm still not synced or happy to call. If you don't like me, I can give you one of my best happy colleagues.
But if you don't strengthen it as soon as possible, great harm will come to people. pic.twitter.com/OxLlB4lygE
— Tay 💖 (@tayvano_) December 22, 2024
A 0-day (zero-day) is a software vulnerability that the developers or publishers are not aware of and have zero days to fix. Tai says that DPRK hacking groups are highly sophisticated and consistently get their hands on them within 0 days.
Adding HyperLiquid
HyperLiquid is currently the largest on-chain perpetual trading platform with 271,000 users with approximately $12.14 billion in deposits and $6.20 billion in daily trading volume.
The platform launched its native token HYPE on November 29, which has risen from its listing price of $1.97 to its current price of $27.97.
HYPE is currently the 22nd largest cryptocurrency with a capitalization of $9.35 billion as of publication.
