Almost all cryptos pumped after Trump’s election—it felt like a bull run waiting to happen. One standout was HYPE, the token tied to the Hyperliquid platform. The airdrop frenzy and liquidity boom were insane, pushing HYPE to over $33 at its peak. But now? Things are changing fast.  

The FOMC meeting, led by Fed Chair Jerome Powell, might have triggered a new phase for the market. And worse, there are whispers of a potential Hyperliquid hack brewing. Allegedly, North Korean hackers have already tested the platform, causing $700K in losses—and they could be exploiting vulnerabilities even further.  

Here’s why I sold all my HYPE and bought GMX instead:  

1. Hyperliquid Is a Blackbox 

   - It's not even open source. That’s a massive red flag for a DeFi project.  

   - The platform runs with only four validators, leaving it highly centralized.  

2. Security Concerns  

   - North Korean hackers could be exploiting the platform using advanced techniques, including “0day” vulnerabilities.  

   - If a big hack happens, it could be the end of Hyperliquid.  

3. GMX Is Built Differently

   - Unlike Hyperliquid, GMX is transparent and has a proven track record in the derivatives space.  

   - Its decentralized model feels safer and more resilient to attacks.  

I get it—Hyperliquid looks slick and has had its moments, but the risks outweigh the rewards for me. With just four validators and no open-source code, it’s like trusting a locked box with no way of seeing what’s inside. And believe me, I'm fully objective on this, I made some good profits on Hyperliquid (more than $1500 in PnL + the HYPE airdrop), but now it's time to withdraw my funds from this platform...

If a major hack hits, it won’t just be a Hyperliquid issue. It could signal the end of the Crypto+Trump honeymoon—the bull market vibes that we’ve been riding since the election.  

What’s Next?

While many traders will likely keep using derivatives exchanges, I’m betting on GMX. It’s built to last and doesn’t have the vulnerabilities of platforms like Hyperliquid.  

What about you? Are you sticking with HYPE or moving to something safer like GMX?