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HyperLiquid Experiences $60 Million USDC Outflow Amid North Korean Hacker Probes, HYPE Token Surges

Dec 23, 2024, 02:22 AM

HyperLiquid, a layer-1 blockchain and decentralized exchange focused on perpetual futures, has experienced a significant outflow of $60 million in USDC, amid concerns over potential security threats from North Korean hackers. These hackers, reportedly linked to the Democratic People's Republic of Korea (DPRK), have been observed interacting with the platform, possibly to probe for vulnerabilities. The hackers have incurred losses exceeding $700,000 while trading on HyperLiquid, suggesting they might be testing the platform's security. Despite the bridge still holding $2.2 billion in USDC, the outflows have raised concerns. HyperLiquid, which commands over 50% of the total on-chain perpetuals trading volume, recently launched its token HYPE, which has seen a surge of over 600% to $28.6 since its debut on November 29, briefly reaching a market capitalization of $10 billion and becoming the 22nd largest digital asset in the world.