Summary: North Korea’s infamous hackers have set their sights on Hyperliquid, a decentralized exchange (DEX), raising alarms within the crypto community. Despite losing over $700,000 while trading on the platform, experts believe the activity might be a test to assess its security. In 2024 alone, North Korean cybercriminals have stolen $1.34 billion in cryptocurrency, accounting for 61% of all crypto thefts this year.
The Details
Cybersecurity expert Tayvano revealed that North Korean hackers are trading actively on Hyperliquid. While the hackers incurred significant losses, some speculate they’re probing the platform’s defenses for a bigger attack. Despite the concerns, Hyperliquid’s team has shown little worry. Tayvano, however, warned, “If I were managing their validators, I’d be worried.”
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A Chainalysis report shows 2024 as the most profitable year for North Korean hackers. They’ve stolen $1.34 billion in 47 attacks, a 21% increase from 2023. Major heists include $305 million from DMM Bitcoin and $235 million from WazirX.
Why It Matters
North Korea uses stolen crypto to fund its weapons programs. While DeFi platforms remain prime targets, centralized services aren’t immune. With the crypto market surging, platforms like Hyperliquid must prioritize security as hackers ramp up their efforts into 2025.
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The industry now faces a pressing question: Can it outpace these cybercriminals before another major breach occurs?