Hyperliquid's TVL drops by $1 billion amid North Korean hacking fears
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Hyperliquid’s TVL drops by $1 billion amid North Korean hacking fears
North Korean hacking concerns spurred $1 billion in outflow sand a 20% drop in native token for Hyperliquid.
Hyperliquid, a layer-1 decentralized leveraged trading platform, saw its total value locked (TVL) plummet by over $1 billion in the past week.
This drop follows reports of suspicious activity tied to North Korean hackers.
According to CryptoSlate’s data, this has also resulted in a steep 20% fall in Hyperliquid’s native token value over the last 24 hours.
Record outflow
Data from DeFiLlama shows that Hyperliquid’s TVL has fallen 35% in the past week to $2.25 billion from the $3.45 billion recorded on Dec. 17.
On Dec. 23, Tom Wan, the Head of Data at Entropy Advisor, added to concerns by highlighting the significant withdrawal of $70 million USDC in a single day. He said this represents 3% of the platform’s bridged TVL.
Despite the sharp outflow, Wan noted that …
North Korean hacking concerns spurred $1 billion in outflow sand a 20% drop in native token for Hyperliquid.
Hyperliquid, a layer-1 decentralized leveraged trading platform, saw its total value locked (TVL) plummet by over $1 billion in the past week.
This drop follows reports of suspicious activity tied to North Korean hackers.
According to CryptoSlate’s data, this has also resulted in a steep 20% fall in Hyperliquid’s native token value over the last 24 hours.
Record outflow
Data from DeFiLlama shows that Hyperliquid’s TVL has fallen 35% in the past week to $2.25 billion from the $3.45 billion recorded on Dec. 17.
On Dec. 23, Tom Wan, the Head of Data at Entropy Advisor, added to concerns by highlighting the significant withdrawal of $70 million USDC in a single day. He said this represents 3% of the platform’s bridged TVL.
Despite the sharp outflow, Wan noted that …