Wallet suspected of belonging to the UXLINK hacker is holding a $71M ETH long position on Hyperliquid with $6.54M unrealized gains.
Security & Exploits ·
On-chain data indicates that a wallet potentially belonging to the perpetrator of last year's roughly $40 million UXLINK theft is currently operating a substantial long position in ETH on Hyperliquid. The position spans 30,282 ETH with an average acquisition price of $2,134.45, positioning it at a market value near $71.17 million and producing roughly $6.54 million in paper gains.
Investigators have identified overlapping transaction patterns linking the suspected hacker to this account. A funding address tied to the position and a documented UXLINK hacker address both moved ETH for gas expenses to an identical recipient on the same date, strengthening the connection. The account's activity on Hyperliquid commenced in early August following the accumulation of roughly 11.55 million USDC across multiple transfer sources.
The trading pattern shows five of six executed trades producing profits, though it remains unclear whether additional positions exist or what risk management strategies, if any, are in place. The hacker's continued presence in leveraged markets introduces ongoing exposure to liquidation risk and regulatory surveillance.