Hypervault Disappears After Suspected $3.6M Rug Pull Incident
Key Points on Hypervault Incident:
- Approximately $3.6 million vanished from DeFi platform Hypervault, suspected to be a rug pull.
- Blockchain security firm PeckShield reported the funds were moved from Hyperliquid to Ethereum, converted to ETH, and 752 ETH was funneled through Tornado Cash.
- Hypervault's online presence, including its website and social media, disappeared after the incident.
- The platform previously advertised high yields of up to 76% on stablecoins and 95% for HYPE liquidity pools.
- At the time of the exploit, Hypervault held about $5.91 million in total value locked (TVL) from over 1,100 depositors.
- Claims of audits by Spearbit, Pashov, and Code4rena were refuted by the auditors themselves.
- Community members had raised red flags about the lack of genuine audits.
- This incident follows other notable rug pulls in 2025, such as Test Token (TST) and the Melania Trump-linked meme coin.