Hyperliquid Trader Loses $21M After Private Key Leak

[nihalsari]

A single Hyperliquid user lost about $21 million on Thursday after a private key exploit drained funds from the platform’s Hyperdrive lending protocol.

According to PeckShield, the attacker stole 17.75M DAI and 3.11M SyrupUSDC, later bridging the funds to Ethereum. The cause of the key compromise remains unknown.

The incident comes as Hyperliquid processes over $3.5B in weekly trading volume, highlighting the growing risks tied to DeFi’s rapid expansion.

[Abdul Khan]

Private key leaks are still the biggest threat in crypto. Self-custody is powerful but demands extreme vigilance.

[Nahid Hossen]

It’s a painful reminder — even one compromised key can wipe out millions. Hardware wallets are not optional anymore.