TL;DR
- NFT Boom: Hypurr NFTs surged to a $70K floor within a day, driving $45M in trading volume and attracting high-value sales like Hypurr #21 at $470K, cementing the collection’s explosive debut.
- Security Breach: A hacker compromised the wallets of Genesis Event participants, stealing eight Hypurr NFTs and reselling them for $400K, raising urgent concerns about Hyperliquid’s ability to protect its community.
- Ecosystem Strain: With prior HyperDrive and HyperVault losses plus token exploits, repeated breaches now test user trust, even as HYPE token climbs 4.65% to $47.14.
Hyperliquid’s much-anticipated Hypurr NFT collection launched with explosive demand, reaching a floor price above $70,000 within hours. Yet the celebration was overshadowed by a wallet compromise that allowed a hacker to steal eight NFTs worth approximately $400,000. The incident has intensified scrutiny of Hyperliquid’s security practices, already under fire after multiple ecosystem breaches in recent days.
Hypurr NFTs have been deployed on the HyperEVM.
Participants had the opportunity to opt in to receive a Hypurr NFT after the HyperEVM went live as part of the Genesis Event in November 2024. The HyperEVM launched in February 2025 as the general programmability interface to the…
— Hyper Foundation (@HyperFND) September 28, 2025
Airdrop Launch and Soaring Prices
The Hyper Foundation distributed 4,600 cat-themed Hypurr NFTs on September 28 to reward early supporters from the November 2024 Genesis Event. Within 24 hours, the collection generated $45 million in trading volume on OpenSea, with the floor price climbing past $70,000. Some pieces even traded over-the-counter for $88,000 before the official launch through DripTrade’s collateralized pre-sale system. The standout sale was Hypurr #21, featuring rare “Knight Ghost Armor” traits, which fetched 9,999 HYPE tokens, worth about $470,000.
Hacker Exploits Wallets for $400K
Blockchain investigator ZachXBT reported that a threat actor compromised wallets belonging to Genesis Event participants who had received the airdropped NFTs. The attacker managed to seize eight Hypurr tokens, quickly flipping them for a profit of roughly $400,000. The theft highlighted vulnerabilities in wallet security and compounded concerns about Hyperliquid’s ability to safeguard its community during high-profile launches.
Security Breaches Shake Confidence
The Hypurr exploit was not an isolated event. It followed a $773,000 loss from HyperDrive due to router contract vulnerabilities and a $3.6 million rug pull involving HyperVault developers. Earlier in the year, Hyperliquid also faced a $13.5 million JELLY token manipulation and a $4 million vault loss triggered by the “ETH 50x Big Guy” trader. These repeated breaches have raised alarms about the platform’s credibility, especially as competitors like ASTER DEX process over $13 billion in daily perpetual futures volume.
Community and Market Response
Despite security setbacks, enthusiasm for Hypurr NFTs remained strong. Over 1.3 million HYPE tokens, equivalent to $61 million, were traded in 24 hours, with 92.8% of supply held by 4,270 unique owners. Creative director Alex Obymuralex praised the collection’s design as “timeless,” emphasizing its accessible forms and vibrant colors. Meanwhile, Hyperliquid’s HYPE token rose 4.65% to $46.32, buoyed by optimism around the launch and the introduction of the USDH stablecoin, even as questions linger about long-term trust in the ecosystem.
