🚹 Hyperdrive Exploit: $782K Drained from Hyperliquid-Based Protocol

On Saturday night, Hyperdrive, a lending protocol built on Hyperliquid, was exploited for ~$782,000 after an attacker targeted its Primary USDT0 Market and Treasury USDT Market.

đŸ”» The attacker extracted 673,000 USDT0 and 110,244 thBILL, quickly converting them into cross-chain assets (BNB & ETH) and moving them off-chain.

🔍 CertiK (CTK) reported the exploit stemmed from an arbitrary call vulnerability in the router contract.

⚡ In response, Hyperdrive:

✅ Paused the protocol to prevent further losses

✅ Identified and fixed the root cause

✅ Announced a compensatory plan for affected accounts

📊 Currently, Hyperdrive still holds $21M TVL (per DefiLlama).

👉 This marks the third major security incident on Hyperliquid since its launch in late 2024.

DYOR No Financial advice!

#DeFi #Security #Hyperdrive #Binanceupdate #TradingAlert

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