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Hyperliquid Denies Indicators of a North Korean Hack, Despite On-Chain Evidence

Author: Content Editor
Hyperliquid, a decentralized exchange, has denied being hacked by North Korea's Lazarus Group, despite on-chain data showing large-scale fund withdrawals. Security expert Taylor Monahan has identified vulnerabilities in Hyperliquid's system and warned that hackers do not need to meddle with user funds to breach security. Rumors of a North Korean hack have led users to withdraw $60 million from the platform. Hyperliquid insists there has been no exploit and that all user funds are accounted for. However, on-chain data shows Lazarus-linked accounts depositing and withdrawing substantial amounts of ETH from the platform. Monahan cautions that Hyperliquid should take the threats seriously due to Lazarus Group's history and sophistication. The exchange's evasive and defiant attitude is also concerning. Although there has been no evidence of funds being disturbed, it is possible that Lazarus has already penetrated the security. Monahan highlights the risk of lateral movement by hackers and the potential for a major hack if high-level individuals' devices are compromised.

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