Hyperliquid faces $60M USDC outflow amid North Korean hack rumors, denies exploit

Decentralized exchange (DEX) Hyperliquid is facing significant turbulence as it saw $60 million in USDC outflows amid rumors that North Korean hacking groups are actively targeting the platform. This also impacted its native token HYPE, which plunged more than 10% in the last 24 hours. Cybersecurity expert Tayvano revealed on December 22 that on-chain evidence suggests North Korean hackers were targeting Hyperliquid. Hackers are actively trading on the platform, suffering losses in excess of $700,000 since beginning their activities. However, Hyperliquid Labs has denied any exploits or vulnerabilities on the platform and reassured users that funds are secure.