The Hyperliquid team has issued an urgent alert regarding the security breach of HyperFND’s official X (formerly Twitter) account.
In an official statement posted via the verified @HyperliquidX account, the team confirmed that malicious actors have gained unauthorized access to the HyperFND profile.
They warned the public that all current posts and links from the compromised account are potentially dangerous and should not be clicked or interacted with.
The breach has raised significant concern among the community, especially as phishing scams and social engineering tactics are increasingly common in the digital asset space.
Blockchain Infrastructure Remains Secure Despite Social Media Breach
Despite the seriousness of the social media breach, Hyperliquid has reassured users that the incident has not affected the core infrastructure of the Hyperliquid blockchain.
The protocol, smart contracts, and user funds remain secure, according to the project’s statement.
The distinction is critical, as blockchain-related hacks often involve direct attacks on wallets, platforms, or smart contracts.
In this case, the damage has been contained to HyperFND’s communication channel, underscoring the importance of separating marketing and technical infrastructures when managing digital platforms.
Market Impact: HYPE Token Records Mild Dip Amidst Turmoil
In the wake of the hack, Hyperliquid’s native token, HYPE, has experienced a slight dip in value. As of now, the token is trading at $33.94, reflecting a 3.20% decline over the past 24 hours.
However, the token has still recorded a strong 27.16% increase over the past week, suggesting that investor confidence in the project’s fundamentals remains largely intact.
With a circulating supply of 330 million HYPE, the token’s market capitalization currently stands at approximately $11.3 billion.
The resilience in HYPE’s price indicates that the community is distinguishing the isolated social media hack from the overall integrity of the Hyperliquid ecosystem.
Hyperliquid’s Momentum Grows Amid Broader Ecosystem Developments
Even as the team manages the social media breach, Hyperliquid continues to show strong momentum on other fronts.
Between May 5 and May 11, the platform saw a record $548 million in weekly net inflows, signaling increasing user interest in decentralized trading amid regulatory headwinds facing centralized exchanges.
Additionally, open interest on the platform’s derivatives market has surged to an all-time high of $4.9 billion, driven by growing demand for perpetual futures.
Hyperliquid has also introduced a revamped fee and staking system designed to reward loyalty and deepen liquidity.
Also, with perks such as double-weighted spot volume, real-time maker rebates, and cross-account benefits.
These updates suggest that, despite the recent breach, Hyperliquid remains a key innovator in the decentralized finance landscape.
Also Read: HyperCore & HyperEVM Integration Goes Live, Enabling Seamless DeFi Trading On Hyperliquid