Hyperliquid’s Hypurr NFT airdrop backfires – $400K hack sparks jitters
Hyperliquid rewarded loyal users with NFTs, but looming unlocks keep traders watchful.
Key Takeaways
What are Hypurr NFTs, and who received them?
Hypurr NFTs are unique digital collectibles airdropped to early Hyperliquid users as a reward for supporting the project.
Are there any risks following the Hypurr NFT drop?
Yes, several NFTs tied to compromised wallets were stolen, and analysts are wary of a looming $12B HYPE token unlock that could impact prices.
Early users of Hyperliquid [HYPE] just got a big reward for sticking around.
On the 28th of September, the Hyper Foundation rolled out its long-awaited Hypurr NFT collection, handing out these digital collectibles to early adopters of the perpetuals-focused Layer-1 blockchain.
Hypurr NTFs arrive with security concerns
Hyperliquid pushed ahead with its latest community move on Sunday, dropping 4,600 Hypurr NFTs to early supporters through the HyperEVM.
The collection, designed to celebrate the culture and quirks of the ecosystem, required no action from users and was automatically distributed.
The statement read,
“The goal of the Hypurr NFT collection was to share a memento with those who believed in and contributed early on to Hyperliquid’s growth. Each NFT is unique and captures the different moods, hobbies, tastes, and quirks of the Hyperliquid community, as depicted by Hypurr.”
Most of the supply went to Genesis Event participants from November 2024, while 144 NFTs went to the Foundation and 143 to contributors including Hyperliquid Labs and NFT artists.
But the rollout wasn’t without drama.
Blockchain sleuth ZachXBT flagged that eight Hypurr NFTs tied to compromised wallets were stolen shortly after the drop, netting the attacker around $400,000.
The incident quickly caused concerns around wallet safety, even as hype built around the new collection.
Building momentum, but challenges ahead
Alongside the NFT drop, Hyperliquid also unlocked a new feature on its mainnet recently: permissionless spot quote assets.
This means stable asset issuers can now activate quote status on-chain without approval, giving the platform more flexibility.
AMBCrypto previously reported that Native Markets was quick to jump in, launching USDH (a stablecoin backed by cash and U.S. Treasuries) as the first permissionless quote asset.
The move immediately enabled HYPE/USDH trading, and more assets are likely to follow.
Despite all this, risks remain.
Analysts are watching a looming $12 billion HYPE unlock that could put pressure on prices, while recent instability in kHYPE’s peg has raised questions about the durability of its token economy.
