What happened?
A hacker stole eight Hypurr NFTs worth about $400,000 by compromising wallets that received the airdropped tokens on Hyperliquid’s HyperEVM layer. The theft happened within hours of the collection’s launch, which hit a floor price near $70,000 and generated massive trading volume on OpenSea. Blockchain investigator ZachXBT first reported the sophisticated attack targeting early Genesis Event participants who opted to receive the free collectibles.
Who does this affect?
This mainly affects early Genesis Event participants who received the free Hypurr NFTs and any owners whose wallets were compromised. It also hits Hyperliquid users, developers and projects building on the platform after recent incidents like the HyperDrive exploit and HyperVault rug pull. Broader NFT collectors, HYPE token holders and marketplaces that list these assets are also exposed to loss of funds, reduced trust and potential legal or recovery headaches.
Why does this matter?
It matters because repeated security failures erode user trust and make people less willing to buy, hold or trade on Hyperliquid. We’ve already seen big short-term market moves: the Hypurr drop produced huge volume and lifted HYPE briefly, but hacks and large token sales have increased price volatility and selling pressure. If confidence keeps falling, liquidity and secondary market prices could fall, institutional interest may pull back, and competitors like Aster could take market share.