Summary
- A significant outflow of $60 million in USDC has been recorded on the HyperLiquid platform.
- North Korean hacker-associated addresses are suspected of incurring losses over $700,000 on the platform, potentially probing for vulnerabilities, as per observers.
Details
HyperLiquid, a layer-1 blockchain and decentralized perpetual futures exchange, has witnessed a massive outflow of USDC, raising concerns about potential North Korean incursions. Reports indicate that this event coincided with the involvement of addresses linked to North Korean hackers, who have reportedly sustained losses exceeding $700,000 while trading on the platform.
According to Tay, a pseudonymous cybersecurity expert, insinuations suggest that these addresses might be conducting tests to identify weaknesses within the exchange's framework. A tracking tool by Hashed Official reported that by 10:00 UTC, a record $60 million had exited the exchange. Notably, USDC serves as a primary collateral asset on HyperLiquid, where $2.2 billion still remains secured on the deposit bridge.
The platform successfully launched its earning token, HYPE, on November 29, and since its debut, it has appreciated over 600%, with a current market cap surpassing $10 billion.
To stay updated on the latest developments, consider subscribing to CoinDesk's Crypto for Advisors Newsletter.
