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Hyperliquid's HYPE token experienced significant volatility following reports of potential North Korean hacker involvement, leading to a 20% drop in price and total value locked (TVL). Security expert Taylor Monahan highlighted suspicious wallet activity linked to the DPRK, prompting concerns of a future attack. Despite the turmoil, Hyperliquid's team denied any exploit, and the token has since begun to recover, trading around $313 after a 15% increase.
Bitcoin experienced a significant dip, falling over 12% to $92,762, amid concerns over North Korean hacking activities linked to the decentralized exchange Hyperliquid. Despite blockchain security expert Taylor Monahan's warnings, Hyperliquid stated there was no threat, yet the exchange faced nearly $113 million in outflows and its native token, HYPE, dropped nearly 20%. The U.S. Treasury continues to target North Korea's digital asset money laundering networks, emphasizing the regime's use of complex schemes to fund its weapons programs.
North Korean hackers are reportedly probing Hyperliquid, a rapidly growing DeFi project, raising concerns about potential security vulnerabilities. Following a significant drop in the HYPE token's value and a historic outflow of $211 million, experts warn that the platform's limited validator set could make it an easy target for exploitation. Despite reassurances from Hyperliquid that all user funds are secure, skepticism remains high among industry experts.
Hyperliquid Labs has addressed concerns regarding North Korean-linked wallet activity on its platform, asserting that there has been no exploit and that user funds remain secure. Following the allegations, the HYPE token experienced a drop of over 25% but has since rebounded to $27. The platform continues to maintain a significant share of the on-chain perpetual futures trading market.
Taylor Monahan
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north korean hacking concerns cause volatility in hyperliquid's hype token
19:56 24.12.2024
bitcoin and crypto markets decline amid north korean hacking concerns
20:05 23.12.2024
hyperliquid token plummets amid fears of north korean hacking threat
18:25 23.12.2024
hyperliquid labs addresses north korean wallet activity and secures user funds
18:10 23.12.2024
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