Hyperliquid, one of the leading decentralized exchanges, has caught the attention of North Korean hackers. Recently, an address linked to the hackers conducted a series of transactions on the platform.
North Korean Hackers' Attack on Hyperliquid
According to data from Lookonchain, North Korean hackers opened a long position in Ethereum on Hyperliquid. This was facilitated by a deposit of 476,489 USDC.
Trading Strategy and Results
The address linked to the hackers opened a long position in ETH at the price of $3,791.8. However, the position was liquidated when the price fell to $3,251.8, resulting in a loss of $458,000.
Consequences for Hyperliquid and HYPE Tokens
These operations created investor concerns, leading to a record outflow of $60 million USDC from the platform. The HYPE token sharply dropped in price, losing 18.5% in the past 24 hours.
Hyperliquid is facing significant challenges due to the operations of North Korean hackers. This underscores the critical importance of security for decentralized finance platforms.
