HypervaultFi: the September 2025 disappearance

🚨 HypervaultFi Rug Pull – Sept 26, 2025 🚨

All informations here 👇

One of the biggest shocks on HyperEVM just went down: #HypervaultFi rugged and vanished, leaving ~$3.6M in losses for around 1,100 users.

🔎 What happened:

- At 7:26 AM GMT, PeckShield flagged strange withdrawals.

- In minutes, vaults were drained, funds bridged from HyperEVM to Ethereum, swapped into 752 ETH (~$3.6M), and broken into batches (7×100 ETH, 5×10 ETH, 2×1 ETH) before being washed through Tornado Cash.

- By midday, the website was offline, the X account deleted, and the Discord wiped. The team ghosted completely.

🧑‍💻 Who’s behind it?

The founder is allegedly Nick Olsen from Sweden, known as “0xnick,” linked to the email rizwan.bizdev@gmail.com.

- Wallets 0xd74eA73957a4eaC6a9636221421a3a69b4714EEe and 0xee882B9Ada0895376Fd90a2B6A80D6d7f7F06396 are tied to the rug.

A leftover team wallet still holds 2 uBTC & 89 uETH (~$577K) on Hyperliquid.

Promoters like @theHYPEconomist admitted to shilling it, while others now post “SCAMMER WANTED” flyers with Olsen’s photo.

Red flags people ignored:

-“Pending audits” from Spearbit, Pashov, and Code4rena that never existed.
-Unrealistic APRs of 95% on $HYPE liquidity.
-Low community engagement despite big promises.

What does it means;

-Users lost anywhere from $500 to $65K+.
-X is flooded with angry posts, doxxing attempts, and regret.
-Quotes like: “Red flags were there, but greed blinds faster than any flashloan.”

Despite this, Hyperliquid itself is fine, $HYPE is still trading around $42, chain TVL ~$500M untouched.

Bigger picture:
This is HyperEVM’s first major rug, but part of a larger 2025 DeFi scam wave (remember Mantra’s $5.5B collapse). Billions have already been lost this year.

Lessons:

-Never trust “pending audits.”
-Treat insane APRs as a scam alarm.
-Only risk what you can afford to lose in unproven protocols.

Once funds hit Tornado Cash, recovery is basically impossible.

👉 If you were affected:

-Screenshot deposits on Hyperliquid explorers.
-File reports (Chainabuse, local cybercrime units).
-Avoid “recovery services”, most are scams!!!

🔑 Core Figure

Nick Olsen (“0xnick”), allegedly Sweden-based.
Identity voice-verified by multiple investors (e.g., @theHYPEconomist during a pre-deposit call).

Email likely: rizwan.bizdev@gmail.com.
X profile: now scrubbed (photo circulating shows male, mid-30s).

👥 Associates
@Hirizzy and @rizwan71198 flagged via on-chain activity and promotional posts.
@rizwan71198’s email ties back to Olsen’s call records.

Both accounts have gone silent post-rug.