Hyperwave confirmed today on X that it has restored withdrawals after suffering a $4.9 million market manipulation attack earlier this week. The DeFi protocol had temporarily halted transactions to assess and contain the incident.
Incident Details and Resolution
According to Hyperwave’s post, the exploit targeted liquidity pool mechanics, allowing the attacker to artificially manipulate market prices before draining funds. The team stated that user balances remain secure and that the vulnerability has been patched. Withdrawals and swaps are now fully operational, while the project continues monitoring suspicious activity.
Future Prevention and User Support
Hyperwave added that it will release a detailed post-mortem soon, outlining the attacker’s method and the steps taken to prevent future exploits. The protocol also encouraged affected users to reach out to support for assistance as recovery measures continue.
The information presented in this article is for informational purposes only and should not be interpreted as investment advice. The cryptocurrency market is highly volatile and may involve significant risks. We recommend conducting your own analysis.