HyperDrive restored funds from two markets of high lipid blockchain from exploit-emission funds in June, and recovered compensated users.
summary
- Hyperdrive was misused on September 27th for $700,000.
- Attack tracked by router contract authority.
- Users have refunded and the market has been fully restored.
Hyperdrive is a decentralized finance protocol for high lipid blockchains that resumed full operation after exploits were released from two markets, regaining funds to affected users.
According to a September 29 update on the project’s X, all accounts affected by the attack have been repaired and market features have returned online. The team confirmed that the exploits were limited to the primary and Treasury USDT0 markets and were not spreading to other assets or contracts.
More about Hyperdrive Exploits
On September 27th, the attacker used Hyperdrive’s router contract. This was granted operator authority during the lending process. This allows you to manipulate secured positions and make any function calls to whitelisted contracts. Two accounts have been drained, losing 672,934 USDT0 and 110,244 Thbill tokens.
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The stolen money was tracked by Ethereum (ETH) and BNB (BNB) chains, some of which were washed using Tornado cash. External auditors and forensic experts were registered with Hyperdrive, who confirmed that the vulnerability was fixed and confirmed that they had created the patch in a few hours. All markets were suspended during repairs and only resumed operations after compensation was completed.
Continuous investigation and security response
Hyperdrive said the attack was carried out by known threat actors who had previously been linked to well-known protocol exploits. The full post-mortem report will be published in the coming days. While repeating the security of user accounts, the team warned against fraud and informal communication.
Despite the set-off, Hyperdrive says its long-term strategy remains the same, focusing on yield strategies such as tokenizing partners and Treasury invoices like Theo Network. The team aims to strengthen user trust while driving broader security audits across the ecosystem.
The incident highlights the risks faced by high lipid (hype) ecosystems, with a $3.6 million lag pull recently seen in HyperVault, another protocol built on the chain. High lipids only run a small number of validator nodes, so centralization and system security issues remain.
read more: OKX CEO: High lipids prove that on-chain purps can thrive in small teams
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