According to blockchain security firm PeckShield, Hyperdrive, a decentralized finance (DeFi) project that operates on Hyperliquid blockchain, recently suffered a compromise of two accounts in its thBILL markets. 

$773,000 worth of stolen funds 

It is worth noting that “thBill” is a tokenized version of Treasury Bills (T-Bills) issued by Theo Network. It allows users to earn yield or interest. 

As a result of the recent security breach, roughly $773,000 worth of crypto got stolen. However, it is worth noting that neither the thBILL token nor the HYPED liquid staking token (LST) was affected by the security incident. 

The attackers stole 288.37 BNB and 123.6 ETH. The tokens were then split and bridged out to other chains. 

Hyperdrive’s response 

In response to the recent hack, Hyperdrive paused all money markets as a precaution during an investigation.  

Later, the DeFi project clarified that it had identified the root cause and fixed the issue that made the recent security incident possible. 

Moreover, the project is currently working on a compensatory plan for the affected accounts. 

“We confirm our earlier statement that the issue is limited in scope, affecting only two Hyperdrive markets,” it added. 

The project is expected to become functional again within roughly 24 hours. 

Scam warning 

The project has also urged users to be wary of scams, stressing that they have to rely only on official communication. 

Hyperdrive has also warned against interacting with the protocol or sending funds to its smart contracts.