HyperLiquid, the predominant exchange for perpetual futures, has reported a staggering $60 million in USDC withdrawals amidst speculative actions by North Korea-linked addresses. Surveillance by Hashed Official pinpoints these outflows to a single event on Monday morning. Security analyst Tay suggests the lost funds, exceeding $700,000, may be part of North Korea’s groundwork for a cyber-attack, rather than mere trading losses.
HyperLiquid continues to dominate the perpetuals market, with a massive 50% share of on-chain trading. Despite the suspected threat activity, the platform’s native token HYPE has witnessed a significant appreciation since its launch, experiencing a six-fold increase and briefly breaking into a $10 billion market cap.
The recent developments highlight the urgent need for bolstered security in the DeFi sector to protect against sophisticated cyber threats, particularly from entities such as DPRK that are recognized for their persistent advances in the digital asset space.
