Hyperliquid user loses $738,600 in USDC

• A Hyperliquid user account has been compromised, with about 738,600 USDC drained on September 9.
• The attacker has also undelegated 10,287 HYPE, but those tokens have not entered the withdrawal queue.
• The incident has exposed a seven-day gap between HYPE unstaking and withdrawal.

A Hyperliquid user account has been compromised, with about 738,600 USDC (CRYPTO:USDC) drained on September 9.

The attacker has also undelegated 10,287 HYPE (CRYPTO:HYPE), but those tokens have not yet entered the withdrawal queue.

The account appears to have been accessed through a leaked private key or an approved signing agent.

The stolen USDC has moved through Circle’s CCTP bridge and across several wallets, with some funds reaching a Bitget-linked address.

The HYPE remains staked under a seven-day waiting period, giving the account owner time to respond but no way to pause the process.

Two similar cases have recently caused combined losses of more than $1.1 million.

A proposed Guardian system would let users temporarily halt withdrawals and account changes without giving the Guardian control of their funds.

At the time of reporting, Hyperliquid price was $83.22.