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A 10,000-word deep dive into Hyperliquid: How an 11-person, zero-VC team dominates the perpetual on-chain market? | Bee Network

LoginTrending NewsAI AgentsMeme LaunchpadDeSciTopChainExplorerFor Newbee100x CoinsBee GameEssential WebsitesMust-Have APPCrypto CelebritiesDePINRookies EssentialTrap DetectorBasic ToolsAdvanced WebsitesExchangesNFT ToolsWeb3 UniverseGamesDAppBee HiveGrowing PlatformADRecharge CoinsLoginWeb3 UniGamesDAppBee HiveADhomeAnalysisAnalysislywtcryptoMarketAirdropSandboxA 10,000-word deep dive into Hyperliquid: How an 11-person, zero-VC team dominates the perpetual on-chain market?Related: DeFi Hacked Again for $292 Million, Is Even Aave No Longer Safe? Author|Azuma (@azuma_eth) On April 19th, Beijing time, DeFi security suffered another major blow. On-chain data shows that around 1:35 AM this morning, the rsETH bridge contract of the second-largest liquid staking protocol, Kelp DAO, based on LayerZero, was suspected to have been exploited by hackers, resulting in a loss of 116,500 rsETH, valued at approximately $292 million. Further tracing the on-chain records reveals that the attacker’s address received an initial funding of 1 ETH from the mixing protocol Tornado Cash about 10 hours before the incident. Subsequently, this address called the `lzReceive` function on the LayerZero EndpointV2 contract. This call triggered Kelp’s bridge contract, transferring 116,500 rsETH to another attacker-controlled address. Approximately two and a half hours after the incident, Kelp DAO officially confirmed the attack on X: “Earlier today,…# Analysis# Airdrop# crypto# defi# ethereum# Exchange# Market# Sandbox# TokenPre Tiger Research: South Korea's Retail Crypto Investors Are Disappearing — Who Will Sustain the Market in 2026?Next BIT Research: SpaceX Races Toward a Trillion-Dollar Valuation, What is the Market Actually Buying Into?Polymarket at a Crossroads: The Real Test Begins After the Traffic Boom6086cf14eb90bc67ca4fc62b2Bitcoins market value surpasses Amazon, and global listed companies are in a war to hoard coins6086cf14eb90bc67ca4fc62b4Playing the game of buying low and selling high, the 1inch team is making a steady profit in spot trading?6086cf14eb90bc67ca4fc62b4Cryptocurrency Weekly Report | Bitmine increased its holdings by over 112,000 ETH last week, at an average price of approximately $3,923; Crypto mining company IREN signed a $9.7 billion deal with Microsoft to provide cloud computing services in Texas (November 4th)6086cf14eb90bc67ca4fc62bAs Launchcoin ecosystem recovers, what other potential projects in Believe are worth paying attention to?6086cf14eb90bc67ca4fc62b5ADL, the last line of defense6086cf14eb90bc67ca4fc62bNo commentsLogin immediatelyCoinCarpBinanceCoinMarketCapCoinGeckoCoinliveArmorsWhite Paper RolesFAQPrivacy PolicyTerms of ServicesCoinCarpBinanceCoinMarketCapCoinGeckoCoinliveArmorsWhite PaperRolesFAQPrivacy PolicyTerms of ServicesAirdrop HuntersData AnalysisCrypto CelebritiesTrap Detector繁體中文简体中文日本語Tiếng Việtالعربية한국어Bahasa Indonesiaहिन्दीاردوРусский

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    Conflict of Interest Disclosure: This article was not paid for. One of the most surprising stories in the crypto industry over the past two years originates from a small team based in Singapore, wh...