Hyperliquid Faces $250M Outflow After N. Korea Hacker Claim

Hyperliquid denies a hack, assuring user funds are secure, but Monahan criticizes its reliance on just four validators.

Written By:
Ronak Kumar

Reviewed By:
Dhara Chavda

Hyperliquid Faces $250M Outflow After N. Korea Hacker Claim

Crypto derivatives platform Hyperliquid has experienced its largest net outflows, surpassing $250 million, after concerns arose over possible North Korean hacker involvement. 

According to Metmask security researcher Tay Monahan, hackers linked to North Korea’s Democratic People’s Republic of Korea (DPRK) have been using the platform since October. 

Monahan shared her findings in a Dec. 23 post on X (formerly Twitter), warning that DPRK hackers don’t trade—they test platforms for vulnerabilities. 

This triggered a wave of uncertainty, with net outflows from Hyperliquid reaching an all-time high of $502.7 million on Dec. 23, despite inflows of over $253.5 million. Dune Analytics confirmed these figures.

In response, Hyperliquid assured users via its Discord that no funds had been compromised and there had been no exploit involving DPRK addresses. The platform emphasized that all user funds were secure.

However, the fears sparked by Monahan’s post had a significant impact on Hyperliquid’s native token, HYPE, which dropped 20% from its peak of $35 on Dec. 22, now trading at $28. 

While some criticized Monahan for causing panic, others backed her expertise, acknowledging the seriousness of the situation given North Korea’s history of hacking and stealing billions in crypto.

With North Korea’s Lazarus Group behind several high-profile crypto thefts, Hyperliquid’s response will be crucial in regaining user trust and stabilizing its platform.

Also Read: Hyperliquid DEX Becomes New Target for North Korean Hackers



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Ronak is a dedicated content writer with a keen eye for detail and a passion for blockchain and cryptocurrency. His interest in these fields was sparked through his work, and he continues to expand his knowledge in these areas. He loves to watch anime and binge watches during his free time.
Dhara is a crypto content analyst and writer with over 2 years of experience in the industry. Dhara has a deep understanding of the crypto market and is well-versed in various blockchain technologies. Dhara is also an avid trader and stays current with the latest trends and news in the crypto world. With Dhara's expertise and passion for the industry, readers can expect insightful and informative content.