North Korean hackers are reportedly kicking the tires on one of crypto’s hottest, newest, multi-billion dollar crypto projects—and the development is causing panic.
A crypto wallet associated with a North Korean hacking group recently lost nearly $500,000 on Hyperliquid, according to MetaMask’s Taylor Monahan—a noted on-chain sleuth and tracker of North Korean crypto activity.
Per Monahan’s X post on Sunday, that activity was almost certainly a ploy to better understand Hyperliquid and pinpoint potential security weaknesses.
Hyperliquid is a DeFi, or decentralized finance project that runs on its own high-speed blockchain—which itself was built on top of Arbitrum, a popular Ethereum layer-2 network.
Late last month, Hyperliquid launched a native token via a $1.6 billion airdrop for users. The token, HYPE, has since exploded in value, peaking at a market capitalization of more than $11 billion over the weekend.
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Author: Sander Lutz
