coindesk.com
Blockchain security firm PeckShield reported Friday that a wallet suffered a devastating loss of roughly $21 million worth of crypto assets on Hyperliquid, a decentralized trading platform.
According to PeckShield, the theft stemmed from a private key compromise, allowing an attacker to drain the victim’s funds in a single swift move.
The hack was isolated and was targeted towards the victim's wallet, not HyperLiquid itself.
The stolen assets PeckShield claims included approximately 17.75 million $DAI and 3.11 million MSYRUPUSDP, both of which the hacker has since bridged to Ethereum.
#PeckShieldAlert A victim 0x0cdC...E955 lost ~$21M worth of cryptos on #Hyperliquid due to a private key leak.
— PeckShieldAlert (@PeckShieldAlert) October 10, 2025
The hacker has bridged the stolen funds to #Ethereum, including 17.75M $DAI & 3.11M $MSYRUPUSDP. pic.twitter.com/yZUMM6xL5f
Onchain data shows that the attacker’s wallet executed a series of transactions to move the funds through multiple addresses, a tactic commonly used to obscure traces and complicate recovery efforts.
This incident highlights the persistent risk of private key exposure in decentralized systems — even as smart contract security improves, user-side vulnerabilities continue to be a major attack vector. T
he Hyperliquid case serves as yet another reminder that operational security and hardware wallet protection are critical to safeguarding digital assets in the self-custody era.