Hyperliquid denies being hacked by North Korea’s Lazarus Group, despite on-chain data showing evidence of large-scale fund withdrawals. On-chain data reportedly shows that North Korea-linked wallet addresses collectively deposited and withdrew substantial amounts of ETH from the platform on December 23.

Taylor Monahan, a security expert at Metamask, warned that the hackers do not need to meddle with user funds to breach security and identified clear vulnerabilities in Hyperliquid’s system.

Hyperliquid: Lazarus’ Next Target?

Hyperliquid, a decentralized exchange, officially responded to its critics via Discord. Rumors of a North Korean hack have been circulating today, leading users to withdraw $60 million from the platform. The exchange’s HYPE token was already falling before this recent development, prompting official accounts to conduct damage control

“There has been no DPRK exploit- or any exploit for that matter- of Hyperliquid. All user funds are acounted for. Hyperliquid Labs takes OpSec seriously. No Vulnerabilities have been shared by any party. To be clear, there was never any allegation of any exploit on Hyperliquid,” one of the platform’s exeutives posted on Discord.

Hyperliquid has yet to provide any public statements or announcements to publicly explain the accusations. Instead, on-chain data reveals that Lazarus-linked accounts deposited $476,489 in ETH tokens onto Hyperliquid before subsequently withdrawing them.

While these are not concrete signs of an exploit, they do raise questions about why the platform is seeing such a large volume of outflow from

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Author: Landon Manning