Blockchain security firm PeckShield reported Friday that a wallet suffered a devastating loss of approximately $21 million in crypto assets on Hyperliquid, a decentralized trading platform.
According to PeckShield, the theft was due to a private key compromise, which allowed an attacker to drain the victim’s funds with a single swift movement.
The hack was isolated and targeted the victim’s wallet, not HyperLiquid itself.
The stolen assets PeckShield claims include approximately 17.75 million DAI and 3.11 million MSYRUPUSDP, which the hacker has since connected to Ethereum.
Onchain data shows that the attacker’s wallet executed a series of transactions to move funds through multiple addresses, a tactic commonly used to hide traces and complicate recovery efforts.
This incident highlights the persistent risk of private key exposure in decentralized systems: even as smart contract security improves, user-side vulnerabilities remain a major attack vector. t
The Hyperliquid case serves as another reminder that operational security and hardware wallet protection are critical to safeguarding digital assets in the era of self-custody.
