The potential cyber attack from North Korea has caused a frenzy for Hyperliquid's HYPE token, highlighting serious risks in the decentralized finance sector.
#Hyperliquid , a layer one blockchain and decentralized exchange, faced a significant shock as reports emerged about the potential involvement of North Korean hackers causing the token value and total value locked to plummet over the weekend.

Decentralized perpetual trading platform Hyperliquid saw a record volume of net outflows after one blockchain expert on social media platform X claimed on Monday that North Korea-backed hackers were present on the DeFi platform.
According to data from Dune Analytics, Hyperliquid saw USDC net outflows worth $249.1 million on Monday and another $22.2 million in net outflows on Tuesday so far.
Taylor Monahan, security researcher of Metamask, posted 12 blockchain addresses that were active on Hyperliquid that she has identified as cyberactors backed by the Democratic People’s Republic of Korea. The dates show that one address was active on the platform from Oct. 2.
Monahan said in the X thread that her offer to Hyperliquid to help protect the platform against North Korea is still on the table, as DPRK actors appear to be training to become familiar with the platform to launch an attack in the future.
“I am quite concerned that you guys are at increased risk due to the fact we know that these specific threat actors are now intimately familiar with your platform,” Monahan wrote in her offer to Hyperliquid two weeks ago, which she reposted on Monday. “I really want to emphasize that these are the most sophisticated and rapidly evolving of all the DPRK threat groups.”
Hyperliquid’s Hype, its native token launched recently, also experienced volatility on Monday. The token fell from a weekend high of $34.5 to around $26 on Monday and continued to fluctuate, according to data from Coingecko. Hype recovered 5.4% in the past 24 hours to trade at $29.63 at the time of writing.
Hyperliquid responded to the allegations on Discord by saying that the platform has not spotted any signs of an exploit.
“There has been no DPRK exploit — or any exploit for that matter — of Hyperliquid,” the platform said. “All user funds are accounted for. Hyperliquid Labs takes opsec seriously. No vulnerabilities have been shared by any party.”
DPRK’s state-backed hacker groups have been accused of orchestrating some of the largest hacks in crypto, such as the $600 million hack of the Ronin Ethereum sidechain in 2022.

#Hyperliquid
$BTC

HyperLiquid Exchange, a layer-1 blockchain platform specializing in perpetual futures trading, is facing significant pressure as it records a withdrawal flow of 60 million $USDC , the highest in its history. Sources indicate that hackers linked to North Korea may be "testing the weaknesses" of this platform.

Key Events

Withdrawal of 60 million USDC: As of 10:00 UTC on Monday, HyperLiquid had lost 60 million USDC, according to data from Hashed Official. This is the #stablecoin second largest coin in the world, used as collateral on this platform.

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Hey crypto friends! Today, we're diving deep into the #hype token from Hyperliquid. We're all wondering: does this gem have the potential to climb to $200 by the end of the bull cycle? Well, let's try to unpack that together. Buckle up, it's going to be a ride!
The Fundamentals:
Let's start with the basics - the fundamentals. Hyperliquid isn't just another DEX (Decentralized Exchange) in the DeFi jungle; it's an ecosystem on a Layer 1 blockchain aiming to shake up the game. First thing to note: no VC (Venture Capital). You heard that right. Hyperliquid has been 100% community-funded, which is pretty cool because it means the team is truly motivated to make the project thrive for its users, not some investors.

The Team:
The #hyperliquid team is impressive. We're talking former employees from Jane Street, Andreessen Horowitz, and even MIT. The founder, Notsofast, is an ex-crypto trader with a clear vision for decentralized trading. This team has the chops to make Hyperliquid a world-class platform.

The Technology:
Technologically, Hyperliquid is a dream. They've developed their own blockchain with a consensus algorithm called HyperBFT - super fast, with block latency under 1 second and a capacity to handle 150,000 transactions per second. No gas fees, low trading fees, and a user interface that doesn't hurt your eyes. All this translates to a smooth and efficient trading environment. And with HyperEVM coming, integration with Ethereum could open up a bunch of new possibilities.

Community Sentiment:
The sentiment around HYPE within the community is electric. Since the massive airdrop, people are excited and active, and there's real belief in this project's potential. Forums, Twitter, Discord—everywhere you see lively discussions, strategy sharing, and genuine passion for what Hyperliquid is building.
Statistics and metrics:

CMC (CoinMarketCap): #hype has already shown it can grab attention with impressive trading volumes and rapid market cap growth post-TGE.FDV (Fully Diluted Valuation): Looking at the total supply of 1 billion tokens, projecting a price of $200 gives us an FDV of $200 billion. That's huge, but in a bull market with massive adoption and novel uses, anything's possible, right?Total Supply vs. Circulating Supply: There's a total of 1 billion tokens, but only about 333 million are in circulation after the airdrop (with plans to increase this supply), so relative scarcity could work in favor of price increase.

Now, reaching $200 seems ambitious, but the stars are aligning quite favorably for HYPE:

Continued platform adoption with more traders and dapps coming on board.Technological updates that could make Hyperliquid a major player.A passionate community actively promoting and using the token.And most importantly, the absence of VC funding, which might mean less pressure for quick exits and more focus on sustainable growth.

Of course, this is crypto, and it can be an emotional roller coaster. But if Hyperliquid keeps up its momentum, who knows? Maybe HYPE at $200 isn't that crazy. Stay tuned, stay engaged, and above all, do your own research. If you're a trader, Bitget still has 1700 HYPE in their Candyboom event, which might interest someone.
Catch you later for more adventures in the world of crypto!
Don't forget to mention the strong points I forgot to analyze.