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Hyperliquid Faces $60 Million USDC Outflow Amid North Korean Hacking Rumors, Denies Any Exploit
Decentralized exchange (DEX) Hyperliquid is currently dealing with a significant crisis as it has been reported that the platform has experienced an enormous outflow of $60 million in USDC, amid rumors of North Korean hacking groups targeting the platform. This dramatic event has also had a devastating impact on the native token HYPE, which has plummeted by over 10% in just 24 hours.
Notably, cybersecurity expert Tayvano revealed that on-chain evidence suggests that North Korean hackers have been actively trading on Hyperliquid, resulting in losses exceeding $700,000 since their activities began. However, Hyperliquid Labs has vehemently denied any exploits or vulnerabilities on the platform, assuring users that their funds remain secure.
The sudden outflow of USDC from the exchange has raised concerns about the security and integrity of Hyperliquid’s systems, as users are now left questioning whether their assets are truly safe.
Source: coinpedia.org
