In an alarming development for the cryptocurrency community, the official X channel of Hyperliquid, a popular decentralized exchange, was reported to be compromised yesterday. This incident raises significant security concerns, yet surprisingly little information has emerged since the breach was disclosed.
Despite the unsettling news, the HYPE token, associated with Hyperliquid, continues to show impressive resilience. Following a minor pullback, the token is once again approaching its all-time high, which was reached just last Friday.
HyperFND twitter account was compromised.
The Hyperliquid blockchain is unaffected. Do not interact with any links or tweets from that account.
— Hyperliquid (@HyperliquidX) May 24, 2025
The Hyperliquid team has not provided a subsequent update since their initial communication approximately 24 hours ago. In the absence of detailed information, community members have expressed concerns and inquiries, highlighting the critical need for enhanced security measures. Some users have suggested implementing secure login options like two-factor authentication (2FA) or multi-signature features as safeguards against future breaches.
Importantly, this breach has not deterred user engagement or influenced investor sentiment towards the platform. Whale investors continue their trend of making substantial bets on the cryptocurrency market, including recent notable positions in Bitcoin.
Currently, the HYPE token has surged over 6% on a daily scale and is trading above $35. It experienced an exhilarating spike to a new all-time high earlier in the week, peaking just above $37, according to CoinGecko. This surge, however, was followed by a brief retracement due to external market volatility, particularly triggered by US President Trump’s proposed tariffs against the EU.
Nonetheless, the HYPE token has demonstrated remarkable growth, with a 30% increase on a weekly basis and an astonishing 90% rise over the past month, earning its position as the 14th-largest cryptocurrency by market capitalization, now nearly at $12 billion.
In conclusion, while the security breach at Hyperliquid raises valid concerns, the continued performance of the HYPE token suggests a robust underlying confidence from investors and users alike. As the community awaits further updates from Hyperliquid, stakeholders will be hoping for the implementation of enhanced security protocols to prevent such incidents in the future.
