A trader on the Hyperliquid platform has reportedly incurred over $40 million in losses within a month, making them the largest losing whale on the platform. The trader engaged in high-leverage trading, suffering significant losses on various positions, particularly in HYPE and Ether. Meanwhile, Kinto Network's token price plummeted over 80% on news that the project would cease operations following a $1.6 million hack and inability to secure funding. Contributors cited the platform's unsustainable high yields as a potential cause for its downfall. In another incident, SwissBorg experienced a hack that resulted in a loss of nearly $41 million due to a vulnerability in a third-party API, although the platform assured users that daily operations remain unaffected. Lastly, MegaETH, an Ethereum layer-2 protocol, announced the launch of a new yield-bearing stablecoin, USDm, to enhance its model. Bubblemaps also flagged a massive Sybil attack involving $170 million in MYX tokens from dubious wallets claiming an airdrop, raising concerns about project integrity.

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