Hackers Targeted a Popular Platform that Launched Its Own Altcoin One Month Ago, Price Declined!

Leading DEX Hyperliquid has become the new focus of North Korean hackers.

At this point, Lookonchain said that North Korean hackers have turned to Hyperliquid and that wallets associated with hackers are conducting transactions on the platform.

According to the data, North Korean hackers opened long positions on Ethereum on Hyperliquid.

An address associated with North Korean hackers deposited 476,489 USDC into Hyperliquid and opened a long position in ETH at $3,791.8.

When the Ethereum (ETH) price dropped to $3,251.8, they were liquidated and lost $458,000.

North Korean hackers went long $ETH on #Hyperliquid, turning $476,489 into $18,187 — a loss of $458K in just 2 days!

As reported by @tayvano_, a North Korean-linked address deposited 476,489 $USDC into #Hyperliquid, went long on $ETH at $3,791.8, and was liquidated when the… pic.twitter.com/rXhHzD3AEW

— Lookonchain (@lookonchain) December 23, 2024

While platform HyperLiquid's commercial activities in Ethereum are shaken by its addresses associated with North Korean hackers, the token named HYPE also experienced a sharp decline.

While hacker transactions have been unsettling investors, Hyperliquid saw a record-breaking $60 million USDC outflow.

USDC, the world's second-largest dollar-pegged stablecoin, is used as collateral on HyperLiquid, and the deposit bridge still holds $2.2 billion worth of USDC.

HYPE continues to trade at $26.7, down 18.5% in the last 24 hours.

POP0.38%
HYPE0.9%
G0.3%
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