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.


Activity from North Korea: Wallet addresses linked to North Korean hackers have traded on HyperLiquid, losing over 700,000 USD. However, according to cybersecurity expert Tay, these transactions may be aimed at "familiarizing" themselves with the platform's mechanisms in preparation for an attack.


Warning from expert: Tay, a reputable observer on platform X, warned #HyperLiquid two weeks ago about the risks posed by North Korean hacker groups. Tay emphasized: "They are the most sophisticated and creative threat groups, always quickly adapting to new strategies."


The situation of HyperLiquid


HyperLiquid is currently the leading perpetual futures exchange on blockchain, accounting for over 50% of total on-chain trading volume with a value of up to 8.6 billion USD in the last 24 hours.



HYPE token price surges: Since its launch on November 29, the HYPE token of HyperLiquid has increased by over 600%, peaking at 28.6 USD with a market capitalization exceeding 10 billion USD. Currently, HYPE is the 22nd largest digital asset in the world, according to Coingecko.


Security Concerns


The focus of North Korean hackers on HyperLiquid indicates the platform's attractiveness for potential attacks. The attackers are believed to be using a "zero-day" security vulnerability to conduct tests. This serves as a warning to cryptocurrency exchanges to enhance security against ever-increasing threats.



Conclusion


The record USDC withdrawal and the suspected attack by North Korea pose a significant challenge for HyperLiquid. This also signals the entire cryptocurrency industry to bolster its defenses against cybersecurity risks in an increasingly complex landscape.