Hyperliquid clears up doubts: platform's full solvency confirmed

Foresight News reports an official statement from Hyperliquid, which quickly responds to recent articles containing a series of unfounded claims about the platform’s operation and security. The platform systematically refutes each accusation, providing concrete data and technical explanations.

Security and Liquidity Issues

The allegation of insufficient security amounting to $362 million is a gross misunderstanding. The authors of the article deliberately ignored HyperEVM USDC working with the Arbitrum bridge – the actual USDC in the system amounts to $4.351 billion. This is a significant difference that completely changes the picture of the platform’s solvency.

Another false premise concerns alleged manipulation of volume through the TestnetSetYesterdayUserVlm function. Unfounded – this option exists only in the test environment and is in no way accessible to mainnet users.

Transparency and User Equality

The claim of special privileges for selected players (exemption from fees, influence on airdrops) does not withstand scrutiny. All transactions, balances, and fees are recorded on the blockchain – anyone can verify them. There are no hidden mechanisms favoring specific addresses.

Security of Smart Contract Mechanisms

Opinions about the “god mode” of CoreWriter, which allegedly allows minting coins, are a complete misunderstanding of the architecture. It is merely a way of sending operations to HyperCore – none of the privileges mentioned exist.

Questions about the ability to freeze the chain are also unfounded. Such mechanisms are necessary for network updates – similar to hard forks in other blockchains. During the POPCAT incident in November 2025, the L1 remained unfrozen; only the Arbitrum bridge was blocked as a secure protocol responding to the threat.

Oracle Architecture and Valuation Systems

Concerns about a single private key controlling the oracle are unfounded. The HIP-3 configuration is flexible – implementers can use MPC or other solutions. Perpetual contracts utilize a weighted median price determined by validators, eliminating delays and providing protection against manipulation.

Decentralization and Resilient Protocols

The claim of eight undisclosed addresses controlling all transactions is unfounded. Validators send some operations directly – future updates will include advanced MEV mechanisms and censorship-resistant mechanisms.

The alleged liquidation cartel operates on foundations that do not exist. Backup liquidation is performed solely by HLP, and deposits operate without permission requirements. Most liquidations occur through a traditional order book.

Lending Protocols and Supply Management

Concerns about a hidden lending protocol containing over a million dollars are unfounded. The margin wallet, loans, and HLP are publicly announced pre-alpha versions, fully documented for the community.

Finally – the ModifyNonCirculatingSupply function does not change the actual HIP-1 supply. It is merely a data display tool, with no impact on the system’s actual operability.

Hyperliquid demonstrates that each of the accusations is based on a lack of understanding of the architecture or deliberate distortion of facts.