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Private Key Leak Leads to $21 Million Crypto Theft on Hyperliquid

Private Key Leak Leads to $21 Million Crypto Theft on Hyperliquid

PeckShieldAlert reports that $21 million in crypto assets, including DAI and MSYRUP-USDP, were stolen from Hyperliquid via a private key leak, with the funds later moved to Ethereum through cross-chain transfer.

ETH
DAI
HYPE

Fact Check
The statement is overwhelmingly confirmed by all provided evidence. Multiple reputable sources, including CoinDesk, The Block, and Yahoo Finance, explicitly state that a ~$21 million theft occurred from a Hyperliquid user's wallet. These reports consistently attribute the cause to a private key leak, often citing the blockchain security firm PeckShield as the original source of the information. There is no contradictory evidence.
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Summary

PeckShieldAlert disclosed on October 10 that a wallet on the decentralized trading platform Hyperliquid lost approximately $21 million in crypto assets due to a private key breach. The stolen funds, consisting of 17.75 million DAI and 3.11 million MSYRUP-USDP, were bridged to Ethereum through multiple addresses to obscure their origin, highlighting the ongoing risks tied to private key security in decentralized finance.

Terms & Concepts
  • Private Key: A cryptographic code that allows the holder to access and manage their cryptocurrency funds. If compromised, assets can be stolen.
  • Cross-chain Transfer: The process of moving digital assets from one blockchain network to another, often using specialized protocols or bridges.
  • DAI: A stablecoin cryptocurrency pegged to the US dollar and maintained by the MakerDAO protocol.