🚨 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.
🔻 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!
