HyperLiquid’s $60M USDC Stablecoin Withdrawals Raise Security Alarms Over Hacker Activity
According to a post on X by anonymous observer Tay, who is known for monitoring threats to North Korean crypto protocols, HyperLiquid, a layer-1 blockchain and decentralized exchange for perpetual futures (perps), has seen a significant outflow of the USDC stablecoin amid rumors that North Korean hackers are interacting with the platform.
Hashed Official’s Dune-based tracking shows that at 10:00 UTC Monday, a record $60 million worth of USDC has left the market. HyperLiquid accepts USDC, the second-largest dollar-pegged stablecoin in the world, as collateral. $2.2 billion in USDC is still in the deposit bridge.
DPRK Threat Groups Test HyperLiquid Amid Security Concerns
According to Tay, Democratic People’s Republic of Korea (DPRK) hacker addresses have lost more than $700,000 during their HyperLiquid trading. The exchanges suggest that the hackers may be getting acquainted with the platform’s internal operations in preparation for a malevolent assault. Two weeks ago, Tay claimed, they contacted the platform to offer assistance in thwarting a possible threat.
DPRK doesn’t trade. DPRK tests. I really want to emphasize that these are the most sophisticated and rapidly evolving of all of the DPRK threat groups. They are very creative and persistent. They also get their hands on 0days (such as the one Chrome patched today,
Tay
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