Technology
Crypto Exchange’s Outflows Swell on North Korean Trader Concern
- Hyperliquid is the largest DeFi derivatives exchange by volume
- Security expert says Hyperliquid faces threat from North Korea
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Hyperliquid, a crypto-derivatives trading platform, suffered its biggest-ever daily outflow as traders rushed to remove funds amid concern that North Korean hackers were trading on the exchange.
Digital wallets associated with the hackers have been trading on Hyperliquid since as early as October, said Taylor Monahan, a security expert working at digital-wallet provider MetaMask. She shared the addresses of the suspected wallets and their activities on the social-media platform X on Monday. Trading is usually a way for North Korean hackers to test potential security bugs on a platform like Hyperliquid, according to Monahan.