Hyperliquid, a prominent digital asset exchange, has suffered a $5 million loss due to a security breach known as the 'POPCAT attack.' This incident exploited a vulnerability in a smart contract, allowing attackers to siphon funds from the exchange's hot wallets. In response, Hyperliquid has suspended all transactions and withdrawals, initiated a comprehensive security audit, and committed to reimbursing affected users. The breach has significantly impacted the HYPE token, which saw a sharp decline of nearly 22%. Hyperliquid's CEO has assured users of enhanced security measures and efforts to restore trust. Analysts suggest that the exchange's future and the HYPE token's recovery will hinge on the effectiveness of Hyperliquid's response and transparency in handling the situation.
Hyperliquid Suffers $5M Loss in POPCAT Attack, HYPE Token Plummets
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