crime
The high lipid ecosystem has been shaken by two major incidents within 48 hours, raising new questions about the safety of the rapidly growing defi landscape.
September 27th, HyperDrive Confirmed Two user wallet positions in its financial market were compromised in an attack that emitted approximately $700,000. The announcement comes a day after another high lipid-based protocol, HyperVault, disappeared with what appears to be a $3.6 million lag pull.
Hyperdrive revealed that the attacker is abusing the operator’s permission system. There, some users allowed platform routers to act with the power to seek broad contracts. By leveraging this setup, the perpetrator has acquired the ability to trigger arbitrary calls to market contracts and empty target positions. As a precaution, HyperDrive has now suspended all money markets while the investigation continues. The team is highlighting that Thbill products and $hyped Token remain unaffected as they try to reassure investors amid fallout.
The sense of Déjà Vu for high lipid users is difficult to ignore. On September 26th, blockchain security company Peckshield flagged suspicious transfers from HyperVault. About $3.6 million in user deposits were bridged to Ethereum, exchanged for ETH and sent to Tornado Cash, a common tactic used to obscure stolen funds. Soon after, HyperVault’s website went offline, its social accounts were removed, and the community concluded that the project had disappeared with investor funds.
These developments follow a troubling pattern. Earlier this year, high lipid binding projects were also hit by the jelly jelly operations in March and the XPL exploit in August. High lipids themselves have not been directly compromised, but a series of incidents have hurt emotions and shaking confidence in the protocols built on top of them. Some observers suggest that the ecosystem may be facing a broader campaign of targeted attacks given the rapid succession of prominent losses.
The community was quick to respond. Social platforms make clear whether or not the affected users and whales are able to recover. Others are calling for stricter safeguards and audit standards to prevent similar obstacles, and claim that unconfirmed innovations put billions of dollars at risk to user deposits.
With HyperVault effectively gone and HyperDrive still scrambled to curb damage, investors are wondering whether these shocks are isolated events or early warning signs of deeper vulnerability that can define the future of high lipids.
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