Rekt reported that DPRK-linked wallets were observed trading on Hyperliquid, raising concern that North Korean actors were testing the protocol before a possible attack. The article highlights Hyperliquid's risk profile at the time: more than $2 billion in TVL, four validators, and bridge control through two 3-of-4 hot wallet multisigs managed by a single binary. The warnings from Tayvano and other security figures coincided with a 21% HYPE token drop and more than $210 million in withdrawals, while Hyperliquid stated that no exploit had occurred and user funds were accounted for.