Hyperliquid Labs, the developer behind the HYPE token, has addressed recent claims alleging the involvement of North Korean hackers in a cyberattack against its platform.
The company has strongly refuted these allegations, assuring its users that no cyberattacks, including any from North Korea, have targeted its network. It also reassured customers that all funds remain securely managed.
With a market capitalization of $7.25 billion, HYPE has been a prominent altcoin, though it is not available on major exchanges like Coinbase or Binance.
Hyperliquid Labs emphasized its commitment to maintaining robust security measures and compliance with best practices.
The firm also invited security experts to join its vulnerability reporting program.
Additionally, it clarified a prior incident where an individual falsely claimed to represent a legitimate entity, causing disruptions in a group chat with unprofessional conduct.
The first quarter of 2025 has been marked by a significant surge in crypto hacks, with losses totaling over $1.63 billion.
In the past two weeks, Coinbase users may have fallen victim to phishing schemes resulting in an estimated $46 million in losses, as malicious actors continue to exploit the growing interest in cryptocurrency.
A South Korean court recently handed down prison sentences to three individuals involved in a cryptocurrency investment scam that defrauded investors of approximately $460,000.
Indian authorities recently apprehended five individuals, including one woman, involved in a sophisticated crypto scam that defrauded a businessman of nearly $700,000.