Blockchain security firm PeckShield has reported a major breach, which resulted in the loss of more than $20 million worth of stablecoins.
According to PeckShield, an unidentified user with the blockchain address 0x0cdC…E955 suffered losses of approximately $21 million in digital assets on the Hyperliquid platform.
The stolen funds primarily consisted of stablecoins, including 17.75 million DAI and 3.11 million MSYRUPUSDP. PeckShield confirmed that the attackers gained unauthorized access to the victim’s wallet through a private key leak.
Hackers Bridge Funds to Ethereum
In this case, after the attackers drained the $21 million worth of stablecoins, they bridged the assets on the Ethereum network. Most crypto scammers usually explore this option in an attempt to conceal or redistribute the funds.
Screenshots shared by PeckShield show that the attackers distributed the stolen stablecoins across three separate wallets, holding approximately 10.08 million DAI, another 6.19 million DAI, and 3.11 million MSYRUPUSDP, respectively. At the time of writing, the stolen funds are still held in the wallets and have not yet moved.
#PeckShieldAlert A victim 0x0cdC…E955 lost ~$21M worth of cryptos on #Hyperliquid due to a private key leak.
The hacker has bridged the stolen funds to #Ethereum, including 17.75M $DAI & 3.11M $MSYRUPUSDP. pic.twitter.com/yZUMM6xL5f
— PeckShieldAlert (@PeckShieldAlert) October 10, 2025
Other Crypto Heists in 2025
The development adds to the growing list of thefts that have been reported in the crypto market this year. In the first half of 2025, blockchain security firm TRM Labs reported that attackers stole a whopping $2.1 billion worth of digital assets from the crypto market.
Last month alone, around $127 million was carted away across more than 20 major crypto-related cases, including Shiba Inu’s Shibarium Bridge exploit.
While some crypto thefts are nearly impossible to prevent, many incidents can be avoided through stronger security practices.
As expected, the latest development has reignited discussions around the importance of private key security to prevent such scenarios. To reduce the risk of a private key leak, experts recommend storing private keys offline and enabling two-factor authentication (2FA) whenever possible.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
