"Huge outflow of funds from Hyper Liquid on cryptocurrency exchange over rumors of North Korean hacker activities"

Concerns have been raised that North Korean hackers are trading on the virtual currency exchange Hyper Liquid, leading to a massive outflow of funds due to investor exodus from the exchange, Bloomberg News and others reported.

Taylor Monahan, a security expert at digital wallet provider Metamask, has raised suspicions that digital wallets related to hackers have been trading on Hyper Liquid since October, according to Bloomberg.

On Sunday local time, Monahan posted a post on social media about the address and activities of his suspected wallet, explaining that North Korean hackers appear to be testing potential security flaws on platforms such as HyperLiquid.

Monaghan's corresponding post sparked widespread debate online, with some HyperLiquid supporters criticizing Monaghan for promoting unnecessary fear.

In the midst of this, a large amount of deposited funds have been withdrawn from Hyper Liquid.

Citing data from venture capital fund "Hashid on Dune Analytics," Bloomberg said USDC, a stable coin worth more than $112 million and about 162.68 billion won in our money, was withdrawn from the exchange.

The price of the exchange's token HYPE also fell 20%.

Jeff Yan, co-founder of Hyper Liquid, did not respond to Bloomberg's request for comment.

CoinDesk, a media outlet specializing in virtual currency, also reported that a net outflow of USDC worth more than $60 million occurred in Hyper Liquid on the same day, and suspicions were raised that North Korean hackers were operating on the platform.

HyperLiquid is a decentralized exchange built on its own blockchain, where virtual currency derivatives are mainly traded, according to Bloomberg and CoinDesk.