Perp-Focused HyperLiquid Experiences Record $60M in USDC Net Outflows
HyperLiquid, a decentralized exchange for perpetual futures, faced significant outflows, with $60 million in USDC leaving the platform as concerns arose about potential North Korean hacking activities. Observers noted that North Korean-linked addresses have reportedly lost over $700,000 while trading on HyperLiquid, indicating these actors may be probing for weaknesses rather than engaging in typical trading strategies. HyperLiquid, which handles a substantial portion of on-chain perpetual trading volume, still maintains a robust USDC balance of $2.2 billion. The outflows come amid rising tensions and scrutiny surrounding cryptocurrency platforms and their security. On a positive note, HyperLiquid's token, HYPE, has seen a remarkable surge of over 600% since its debut in late November, now ranking as the 22nd largest digital asset globally.
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