A lot of money has been taken away from Hyperliquid, a derivatives trading platform. This was due to concerns about a possible cyber attack by North Korea.

In one day, the biggest exodus of money ever took place at Hyperliquid. A whopping $250 million was withdrawn from the platform early this week, according to figures from Dune Analytics. The reason? Fear of a hack.

Last weekend, reports appeared on X (formerly Twitter) that hackers with ties to North Korea would have investigated the platform back in October. This was seen as possible preparation for an attack.

tldr of the HyperLiquid situation:

The Bad:
- Wouldn't be surprised if North Korean hackers were looking at ways to attack
- 3/4 validators would need to be compromised to withdraw all 2.3B USDC from the bridge

The Good:
- 2 lines of defense can kick in to prevent money from…
— cygaar (@0xCygaar) December 23, 2024

Hyperliquid responded on its Discord server, "We are aware of reports of suspected North Korean addresses. There is no evidence of abuse or vulnerabilities within Hyperliquid. Our users' money is safe."

A developer named "Cygar" said on X that it would not be surprising if North Korean hackers try to attack. If an attack does occur, measures such as freezing money or, at worst, rolling back the Arbitrum Blockchain, on which Hyperliquid operates, could be taken.

The concerns are not unfounded. This year alone, North Korea is said to be responsible for cyber attacks with a total damage of $1.3 billion. The hacker group Lazarus, working for the North Korean regime, has caused great chaos on many occasions, especially in the crypto world. This group is accused of stealing billions of dollars over the years.