A Hyperliquid trader lost $21 million in a private key exploit, raising new concerns about DeFi security and user vigilance amid growing DEX activity.
On Thursday, a single user on the decentralized trading platform Hyperliquid lost about $21 million after a private key leak led to an exploit involving the platform’s Hyperdrive lending protocol.
According to blockchain security company PeckShield, the attacker targeted 17.75 million DAI (DAI) and 3.11 million SyrupUSDC, a synthetic version of the USDC stablecoin used within Hyperdrive, and subsequently bridged the stolen funds to Ethereum.
PeckShield has not confirmed how the private key was compromised.
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