Trader's Account Hacked, 21 Million Dollars Transferred to Ethereum

Security concerns in the cryptocurrency market have come to the forefront again. A trader on the renowned decentralized exchange Hyperliquid lost approximately 21 million dollars worth of crypto assets due to the theft of his private key.

Blockchain security firm PeckShield reported that a trader controlling the address "0x0cdC…E955" faced significant losses on the Hyperliquid exchange after their private key was compromised. The attacker transferred the stolen assets to the Ethereum network, carrying 17.75 million DAI and 3.11 million MSYRUPUSDP. The data provided by the company shows that the transactions occurred rapidly and that the stolen assets were redirected to other addresses.

The security of crypto wallets relies on the private keys held. This key serves as the sole control code for the assets in a wallet. Therefore, the compromise of this information equates to handing over the key to the vault. PeckShield did not share any information on how the key was seized.

This incident has once again raised concerns about security vulnerabilities within the Hyperliquid ecosystem. Hyperliquid describes itself as a high-speed decentralized futures exchange with an on-chain order book. However, this recent event has once again highlighted the system's vulnerability regarding user security. In the first half of 2025, over 2 billion dollars worth of crypto assets were stolen solely through private key and interface vulnerabilities. Experts emphasize that such attacks remain one of the greatest risks, especially for self-custody wallet users.