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

BlockBeats news, on December 22, Hyperliquid officially clarified a recent article making false accusations against it, which claimed that Hyperliquid has 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 (parallel to the Arbitrum bridge). The current total USDC amount is $4.351 billion. Manipulating 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 manipulating airdrop impacts: false, all fees, balances, and transactions are visible on-chain, with no distortion mechanism. CoreWriter “God Mode” can mint coins, transfer funds, etc.: false, this is the method of sending HyperCore operations to HyperEVM smart contracts, with no such privileges described. Governance can freeze the chain, with no revocation feature: 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 prices: misunderstanding, the HIP-3 oracle is configured by the deployer and can be used with MPC, etc. The perpetual futures operated by validators use a weighted median price, with no latency 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 an unfair advantage: misunderstanding, only HLP can be used for backup liquidation, and deposits are permissionless, with most liquidations processed through the order book. A hidden lending protocol involving over $1 million in funds: false, portfolio margin, lending, and HLP are publicly announced pre-alpha versions with documentation on file. ModifyNonCirculatingSupply can change token supply: false, the HIP-1 token supply is fixed, and this function is only for display purposes, not affecting execution.