Hyperliquid Faces Record Outflow Amid Allegations of North Korean Hacker Activity

Hyperliquid, a newly launched layer-1 crypto derivatives platform, has faced its largest single-day outflow after allegations surfaced of North Korean hackers exploiting the platform.

The controversy began on December 23 when Tay Monahan, a security researcher at Metamask, claimed in an X post that hackers linked to the Democratic People's Republic of Korea (DPRK) had been using Hyperliquid since October.

“DPRK doesn't trade. DPRK tests,” Monahan remarked in a follow-up post, raising alarm about the platform's vulnerabilities.

Over $256M Withdrawn From Hyperliquid

The allegations have triggered significant outflows from Hyperliquid, with Dune Analytics reporting $256 million in net withdrawals over 30 hours.

On December 23 alone, the platform saw outflows peak at $502.71 million, with inflows reaching $253.5 million.

In response, Hyperliquid reassured users via its Discord server, stating, “There has been no DPRK exploit—or any exploit for that matter—of Hyperliquid. All user funds are accounted for.”

DPRK's trading career is…uh….going…..

tbh if i was the dude managing Hyperliquid's 4 validators (or those fucking ghetto ass binaries on gh) I would be shitting my pants right now.

Hyperliquid dudes dont seem worried at all though so im sure its fine. Market News and Data brought to you by Benzinga APIs

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