Hyperliquid clarifies false allegations: the platform status is transparent and verifiable, and gradual Decentralization will ultimately be fully Open Source.

According to news from BiJie Wang, on December 22, Hyperliquid officially clarified a recent article that made false accusations against it. The article claimed that Hyperliquid had issues with solvency, integrity, and transparency. The responses to the 10 specific accusations are as follows: System under-collateralized by $362 million: false, the author of the article ignored HyperEVM USDC (running parallel to the Arbitrum bridge), the current total amount of USDC is $4.351 billion. Manipulated trading volume through TestnetSetYesterdayUserVlm: false, this is only a Testnet feature and cannot be called on the Mainnet. Certain users have privileges, such as fee waivers or manipulation affecting Airdrops: false, all fees, balances, and transactions are visible on-chain, with no distortion mechanisms. CoreWriter “God Mode” can mint coins, transfer funds, etc.: false, this is just a way to send HyperCore operations to the HyperEVM smart contracts, with no described privileges. Governance can freeze the chain with no revocation function: misunderstanding, freezing is used for network upgrades, similar to hard forks on other chains, during the POPCAT event in November 2025, L1 was not frozen, only the Arbitrum bridge was automatically locked as a security measure. A single Private Key can instantly set Oracle Machine prices: misunderstanding, the HIP-3 Oracle Machine is configured by the deployer and can use MPC, etc. Validators operating Perptual Futures use weighted median prices, with no delays to ensure security. Eight undisclosed Addresses control all transaction submissions: false, some transactions have been sent directly by validators, future upgrades will include MEV and anti-censorship mechanisms. The liquidation cartel has unfair advantages: misunderstanding, only HLP can back liquidation, and deposits are permissionless, with most liquidations processed through the order book. Hidden lending protocols involve over $1 million in funds: false, portfolio Margin, lending, and HLP are publicly announced pre-alpha versions, with documented filings. ModifyNonCirculatingSupply can change Token supply: false, the HIP-1 Token supply is fixed, this function is for display purposes only and does not affect execution.