Rise in HYPE by 6% Persists Despite Breach in X Account of Hyperliquid
Decentralized Exchange's Official Channel Suspected of Compromise, Yet HYPE Token Thrives
Reports surfaced yesterday suggesting a suspected compromise of Hyperliquid's official exchange channel. Insufficient information has been disclosed since the incident, with the platform's team remaining silent so far. However, the native HYPE token has made significant strides following a modest downturn, moving closer to its all-time high marked on Friday.
While no official update has been published by Hyperliquid's team since their last post, which went live approximately 24 hours ago, the online community has shown concerns regarding the security of the platform. Users have raised proposals for enhanced login security features, such as two-factor authentication or multi-signature verification, following this incident, which poses a repetitive trend in the cryptocurrency sphere.
Notably, the compromise did not impede user engagement or investor behavior on the Hyperliquid platform. Instead, whales persist in executing substantial trades on various cryptocurrency futures, with one prominent example being a large Bitcoin long that was ultimately closed.
The HYPE token, a top performing cryptocurrency over the past few weeks, has seen a daily increase of over 6%, and sits comfortably above $35. This rise comes after the token skyrocketed to a new all-time high on Friday, now valued at over $37 on CoinGecko. However, a dip in the token's price occurred later that day amid increased financial market volatility and uncertainty brought about by U.S. President Trump's announcement of additional tariffs against the European Union.
Despite this short-term setback, HYPE has demonstrated impressive growth over the past week, registering a 30% increase, and over the past month, experiencing a surge of 90%. This strong performance has catapulted HYPE to become the 14th-largest cryptocurrency with a market cap of nearly $12 billion.
With a rapidly expanding user base, Hyperliquid has managed to restore legitimacy following a controversial security breach linked to the Lazarus Group in March 2025. The platform implemented measures to address concerns and rebuild trust among users, which appears to have paid off with recent spikes in trading volume and open interest.
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[Source: Various Sources]
- In spite of the suspected compromise of Hyperliquid's official exchange channel, the HYPE token, a top performer in the cryptocurrency market, has shown resilience, witnessing a daily increase of over 6%, and currently valued above $35.
- Although the Decentralized Exchange's security incident has sparked concerns about platform security among users, crypto enthusiasts have proposed enhancements like two-factor authentication or multi-signature verification, citing repetitive security concerns in the crypto trading technology.
