Hyperliquid Heist: Private Key Leak Costs Millions, Crypto Reacts

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In a tale that would make even the wittiest wizards forget their coffee, a Hyperliquid user discovered that private keys aren’t shy-they sneak out for a stroll and never come back. A leak in the keys, a vault with a nervous tic, and suddenly about $21 million decided to freelance in the crypto economy. PeckShield, that kindly watchdog with more numbers than a librarian has catalogues, confirms the drama.

The victim’s wallet, known in the underworld of ledgers as 0x0cdC, was drained of 17.75 million DAI and 3.11 million MSYRUPUSDP tokens. The audacious culprit bridged the spoils to Ethereum, where they currently lurk under the watchful glare of watchers who resemble overcaffeinated hawks. 🦅💸

#PeckShieldAlert A victim 0x0cdC…E955 lost ~$21M worth of cryptos on #Hyperliquid due to a private key leak.

The hacker has bridged the stolen funds to #Ethereum, including 17.75M $DAI & 3.11M $MSYRUPUSDP.

– PeckShieldAlert (@PeckShieldAlert) October 10, 2025

The upshot isn’t a crack in the armoury of the protocol itself, but a breach in the user’s own hidey-hole of credentials. Self-custody is splendid when it works and terrifying when it doesn’t, which is roughly the crypto way of saying “you are your own doorwarden, good luck.” Hyperliquid limps along, but this incident tastes like a reminder that one careless keystroke can punch a multimillion-dollar hole in the deck. 🛡️🔑

Broader pattern of exploitation

The incident lands in a growing carnival of deceit: fake apps posing as trusted Web3 platforms coaxing people to spill private keys or link wallets that drain funds faster than a goblin can count coins. Researchers report scammers now buy verified Apple dev accounts, rename them with more confidence than a mage in a cloak, and weaponize trust in “official” stores. 🧙‍♂️🍎

As The CryptoTimes noted yesterday, on October 9 two victims reportedly lost $28,000 to fake crypto trading apps listed on Apple’s App Store. The plot thickens like bad soup in a dragon’s cauldron. 🐉💰

The expanding risk surface in crypto

The Hyperliquid theft and the fake-app scams share a single thread: user complacency with private data. As DeFi platforms and wallets bloom like enchanted fungi, the complexity of personal custody becomes a labyrinth where even Theseus would lose his thread. The human layer remains the soft underbelly, no matter how shiny the code looks. 🧭🧩

Experts note that decentralization merrily kills middlemen but dumps all the risk on users-one lost key or one fake app and the whole pantry can vanish. These events reveal a quiet little truth about crypto: trust without accountability is a joke that keeps writing itself. As scams migrate from phishing sites to so-called official app stores, it’s not the code so much as the human tendency to misplace things that keeps tripping over the same rock. 🪙🤖

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2025-10-10 19:02