Tag: North Korea

North Korean Hackers Lose $458K in Failed ETH Trade

North Korean hackers lost nearly $458K in just 48 hours while trading on Hyperliquid, betting on Ethereum’s price rise. They deposited $476K but got wiped out when ETH dropped. This big loss shows how risky crypto can be, even for experienced hackers, and highlights DeFi’s potential for shady trades.



North Korea’s cyber group just got burned big time—losing almost half a million dollars on a risky Ethereum (ETH) trade. They deposited $476,489 on Hyperliquid, a decentralized exchange, betting ETH would rise when it was priced at $3,791.8. But the market flipped, and ETH dropped to $3,251.8, causing their position to get liquidated, leaving them with only $18,187.

This loss highlights the risky side of crypto, even for skilled hackers like North Korea’s Lazarus group, famous for cyberattacks and stealing funds from crypto platforms. Normally, they use these stolen funds to get around international sanctions, but this time, their bet backfired hard.

Hyperliquid, which allows ultra-fast and anonymous trades, is a decentralized exchange, and its involvement raises concerns about how DeFi platforms handle large and potentially suspicious trades. With platforms like these growing, there’s an increasing risk of illegal activities, like money laundering, slipping through the cracks.

Despite the loss, ETH is showing signs of recovery, and it’s a reminder that crypto trading is unpredictable, with both huge rewards and massive risks—even for hackers with years of experience. Let’s see if they learn from this, or go even harder next time.

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Hyperliquid Hit by $250M Outflow Amid North Korea Hacking Allegations

Hyperliquid got rocked with $250M+ outflows after a researcher warned North Korean hackers might be testing their platform. Even though Hyperliquid denied any breaches, users panicked, and their token HYPE tanked 20%. Now they’re in damage control mode, trying to rebuild trust and chill the chaos.



Crypto derivatives platform Hyperliquid is in the hot seat after $250M+ in net outflows hit them hard, following claims that North Korean hackers might be lurking. Metamask security researcher Tay Monahan called out the issue on Dec. 23 via X (formerly Twitter), saying hackers tied to North Korea’s DPRK have been poking around since October—not to trade but to sniff out weaknesses.

Monahan’s warning sent shockwaves through the community, with users pulling their funds like there’s no tomorrow. Net outflows hit a record $502.7M that day, even with $253.5M in inflows, according to Dune Analytics.

Hyperliquid clapped back on Discord, saying all funds are secure and there’s been no breach involving DPRK. But the damage was already done. Their token, nosedived 20% resulting in drop to $28 .
The crypto fam is divided—some say Monahan caused unnecessary panic, while others respect her hustle for flagging a potential threat. With North Korea’s infamous Lazarus Group linked to big crypto heists, this isn’t something to shrug off.

Now, Hyperliquid’s next moves will make or break user trust as they fight to bounce back and calm the chaos.

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