Hyperliquid Faces $60 Million USDC Outflow Amid North Korean Hacking Rumors, Denies Any Exploit

The decentralized exchange (DEX) Hyperliquid is facing significant turbulence as it recorded $60 million in USDC outflows amid rumors that North Korean hacking groups are actively targeting the platform. This has also impacted its native token HYPE which plunged by over 10% over the past 24 hours. Cybersecurity expert Tayvano revealed on December 22 that on-chain evidence suggests North Korean hackers have been targeting Hyperliquid. The hackers have been actively trading on the platform, incurring losses exceeding $700,000 since their activities began. However,  Hyperliquid Labs denied any exploits or vulnerabilities on the platform and reassured users that funds are secure.