Massive $773K Breach Hits Hyperdrive DeFi Platform, Security Flaw Identified

Hyperdrive faces $773K theft in thBILL markets; platform halts operations, issues user warnings.

Fridah Kangai
September 29, 2025
5:37 pm

Fridah Kangai

Fridah Kangai is a dedicated crypto journalist with a sharp eye for market trends, blockchain innovation, and digital asset movements. She specializes in breaking down complex topics into clear, engaging stories for both seasoned investors and curious newcomers. With a passion for decentralization and a pulse on the ever-evolving crypto space, Fridah delivers timely, accurate, and insightful coverage. Her work bridges the gap between technology and everyday understanding in the world of cryptocurrency.

Hyperdrive suffers $773K DeFi hack; core tokens remain secure.
Attack targets thBILL markets; Hyperdrive pauses operations for safety.
Users warned against scams after significant Hyperdrive breach occurs.

According to blockchain security firm PeckShield, a severe breach has struck Hyperdrive, a decentralized finance (DeFi) project operating on the Hyperliquid blockchain. The attack targeted two specific accounts within the thBILL markets, stealing over $773,000 worth of digital assets.

The stolen funds are 288.37 BNB and 123.6 ETH, which are then bridged to other chains, making it challenging to locate and retrieve the stolen funds. Luckily, despite the massive financial loss, the breach did not impact the core tokens, such as the thBILL token and the HYPED liquid staking token (LST).

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Immediate Response and Security Measures

Hyperdrive did not take long to suspend all its money markets after the breach. The platform instantly initiated an investigation to find the cause of the attack. It promptly verified that its ecosystem had two markets with the security vulnerability, and it was rapidly working on fixing the bug.

#PeckShieldAlert @hyperdrivedefi has reported a compromise of 2 accounts in the thBILL market, resulting in a loss of ~$773K.

The stolen funds were split and bridged out:
• 288.37 $BNB → #BNBChain
• 123.6 $ETH → #Ethereum pic.twitter.com/P7Yire2Xdg
— PeckShieldAlert (@PeckShieldAlert) September 28, 2025

The platform’s team promised the users that no other parts of the system were affected and that the breach was isolated. Hyperdrive also declared plans to compensate the affected accounts to win back trust. They also stated that the platform would be online again within 24 hours.

In addition, the project sounded a great alarm to its users, urging them to beware of possible fraud. Fraudsters usually use such situations to deceive unsuspecting people in the aftermath of the breach. Hyperdrive underlined that users were only to trust official messages and not to communicate with the smart contracts on the platform or transfer money until they were fully recovered.

Efforts to Restore Trust and Security

This has had a financial implication, but Hyperdrive’s early response and openness have been critical in mitigating the impact. Its concern over user funds safety is evidenced by the platform’s brief response to the breach and its communication. It is possible to anticipate that the users’ normal operations will resume in the short term.

The attack reflects the insecurity that DeFi exchanges are still facing. This limited attack is still a reminder of the weak links that may be adopted in decentralized ecosystems. It is important that the DeFi projects are vigilant and dynamic in addressing security weaknesses to maintain confidence and protect users.

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