According to CoinMeta, Wu said that a user, while searching for Hyperliquid on Google, accidentally clicked on the sponsored search results of a counterfeit platform. After connecting to their wallet and authorizing the transaction, approximately 550,000 USDC were transferred in three separate amounts: 27,500, 82,500, and 440,000 USDC. The user's on-chain records show that they had previously visited and reported the same phishing website last year, but this time the website page had been upgraded and was highly similar to the genuine Hyperliquid.