PANews reported on December 24 that according to Bloomberg, the crypto derivatives trading platform Hyperliquid suffered the largest single-day capital outflow in history, as traders were worried that North Korean hackers were trading on the exchange and rushed to withdraw cash. Taylor Monahan, a security expert at digital wallet provider MetaMask, said that digital wallets associated with these hackers began trading on Hyperliquid as early as October. On Monday, she shared the addresses of these suspicious wallets and their activities on the social media platform X. Monahan pointed out that transactions are often a way for North Korean hackers to test potential security vulnerabilities on platforms such as Hyperliquid.

The Hyperliquid core development team said in a statement: “Hyperliquid Labs is aware of reports of alleged activity from North Korean addresses. Hyperliquid has not been the victim of any attack or exploitation from North Korea or any other party. All user funds have been properly handled.”

Monahan’s post sparked widespread discussion on social media, with some Hyperliquid supporters criticizing her for creating unnecessary panic. More than 112 million USDC left the exchange on Monday, according to data collated by venture capital fund Hashed on Dune Analytics. The exchange’s token, HYPE, fell 20%, according to tracking platform Coingecko.