PANews reported on October 9 that according to MLM monitoring, a Hyperliquid whale wallet closed out a HYPE long order worth $16 million and sold 100,000 HYPE (about $4.4 million) about 11 hours ago. The reason seems to be that its private key was leaked, resulting in the account being completely emptied: about $17 million in funds were stolen from its Hyperliquid account; another $3.1 million in assets deposited in the Plasma Syrup Vault (liquidity pool) were also stolen.

After the attack, the hacker transferred all stolen assets, exchanging the stolen USDC for DAI and transferring it to two new wallets, where the funds are currently stored: The hacker also transferred MSYRUPUSDP worth $3.11 million to another new wallet.