Ethereum (ETH), Solana (SOL), and XRP Hit by $148 Million Crypto Thief Selloff

UXLINK is a crypto project whose name has already been tied to an exploiter in on-chain tracking, and Hyperliquid is the venue where leveraged positions were opened and then reduced. The update lands after those positions were already in place, so the key issue is not a new trade but the unwinding of an existing one. For readers, that frames this as an after-the-fact cleanup of exposure rather than a fresh build-up of risk.

Hyperliquid users watching this position can see a large trader exit a set of leveraged longs across ETH, SOL, and XRP in a staged way rather than all at once. That kind of unwind can change order flow on the venue and can also show how quickly borrowed exposure can be reduced when a large position is under pressure. It also highlights how a wallet associated with an exploit can still move through mainstream trading infrastructure.

The larger issue is the overlap between exploit-linked funds, leverage, and public blockchains: transfers and trades remain visible, but visibility does not prevent rapid repositioning. ETH, SOL, and XRP are all liquid markets, yet a single wallet can still move a very large amount through them in a way that is easy to track and hard to ignore. That tension sits at the center of crypto market structure, where open infrastructure makes surveillance possible but also leaves room for fast risk migration. (per u.today)

Ethereum rose 0.2% in the 4 hours after the first headline, after rising 0.2% in the 2 hours before.

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