Hyperliquid, one of the leading DEXs, has become the new focus of North Korean hackers.
At this point, Lookonchain said that North Korean hackers had turned to Hyperliquid and that wallets connected to the hackers were conducting transactions on the platform.
According to data, North Korean hackers opened a long position in Ethereum on Hyperliquid.
An address linked to North Korean hackers deposited 476,489 USDC into Hyperliquid and opened a long position in ETH at $3,791.8.
They were liquidated when the Ethereum (ETH) price dropped to $3,251.8, losing $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
HyperLiquid was shaken by Ethereum trading activity from addresses linked to North Korean hackers, while the platform's HYPE token also suffered a sharp decline.
While hacker operations made investors nervous, a record $60 million USDC outflow occurred from Hyperliquid.
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.
*This is not investment advice.
