1 mins readDecentralized exchange (DEX) Hyperliquid is facing significant turbulence as it saw $60 million in USDC outflows amid rumors that North Korean hacking groups are actively targeting the platform. This also impacted its native token HYPE, which plunged more than 10% in the last 24 hours. Cybersecurity expert Tayvano revealed on December 22 that on-chain evidence suggests North Korean hackers were targeting Hyperliquid. Hackers are actively trading on the platform, suffering losses in excess of $700,000 since beginning their activities. However, Hyperliquid Labs has denied any exploits or vulnerabilities on the platform and reassured users that funds are secure.
Hyperliquid faces $60M USDC outflow amid North Korean hack rumors, denies exploit
Marvin Evans
Marvin Evans is a finance and fintech professional with 20 years of industry experience, including more than a decade working across the fintech sector. He is the founder of Fintech Bits and Finjobsly, and writes about fintech markets, financial technology, industry trends, innovation and the evolving fintech workforce. His analysis combines hands-on industry experience with data-led research to provide practical insight into the companies, technologies and trends shaping financial services.
