Hyperliquid net outflows top $250M amid fears over North Korea hackers
Hyperliquid experienced its largest single-day outflow, exceeding $502.71 million, following claims that North Korean hackers were trading on the platform. Security researcher Tay Monahan reported that DPRK-linked hackers had been active since October. Net outflows reached over $256 million in 30 hours, while inflows were over $253.5 million. Hyperliquid denied any exploit, stating all user funds are secure. The platform's native token, HYPE, dropped 20% from its peak of $35 to $28. Monahan's claims sparked mixed reactions within the crypto community, with some supporting her expertise. Developers noted two potential defenses against attacks: Circle could blacklist addresses to freeze stolen USDC, and the Arbitrum Chain could roll back transactions, though the latter is unlikely unless facing a significant threat.
