Hyperliquid News Today: Scammers Hijack Telegram Ads to Prey on Monad Airdrop Hype

Monad, a high-performance layer-1 blockchain, is grappling with phishing attacks as scammers exploit Telegram ads to mimic its upcoming airdrop portal. Co-founder Keone Hon issued a stark warning on X, stating that malicious actors have purchased ads within the project's official Telegram channel-a space typically reserved for exclusive Monad updates. "Crazy that Telegram will push content directly into a channel that otherwise only contains content from one party," Hon wrote, urging users to avoid clicking suspicious links.

The attacks emerged ahead of the airdrop's scheduled launch on October 8, which will distribute 100 billion MON tokens over three weeks. Hon emphasized that users need not act urgently, as the portal will remain open until late October. "Do not act with urgency, and always triple-verify before doing anything," he advised. The official claim portal is located at , with the project's Telegram channel repeatedly stressing that no other links are legitimate.

Compounding the issue, a fake website--was identified as a phishing scam designed to steal users' cryptocurrency. The site lures victims with promises of "5X points multiplier" rewards, requiring wallet connections that trigger malicious contracts. Security analysts noted that victims risk irreversible fund loss, with the FTC reporting over $1 billion in crypto scam losses since 2021.

Meanwhile, Monad's token has drawn speculative frenzy on Hyperliquid, a decentralized derivatives exchange, where MON-USD "hyperps" (perpetual contracts) began trading pre-launch. At $0.14–$0.15 per token, the price implies a fully diluted valuation (FDV) of $14–$15 billion, rivaling emerging blockchains like Solana and Avalanche. Hyperliquid's listing has generated $19.3 million in trading volume and $4.5 million in open interest, reflecting intense community demand.

Monad's technical ambitions-10,000 transactions per second (TPS), EVM compatibility, and near-zero gas fees-have attracted DeFi projects like PancakeSwap, which reported $250 million in TVL on Monad's testnet. However, skeptics have mocked the 100 billion token supply as "Monad Inu," citing dilution concerns. The project's airdrop progress bar, now at 98%, has intensified anticipation, though community members warn of engagement scams and fake claim tools.

Telegram's ad policies prohibit phishing and deceptive content, yet the Monad case underscores gaps in ad vetting. "Ads must not promote phishing," the platform's guidelines state, but scammers have circumvented safeguards by targeting niche channels.

As the airdrop nears, Monad faces dual challenges: securing user funds against phishing and proving its technical viability. The project's success could redefine scalable blockchain solutions, but execution risks-such as underperformance or security flaws-remain critical hurdles. For now, investors are betting big, with some analysts projecting a $1 price target for MON despite its volatile pre-market trajectory.

[1] Scammers Exploit Telegram Ads To Mimic Monad Claim Portal (https://cointelegraph.com/news/telegram-ads-fake-monad-claim-portal-airdrop-scam)

[2] Monad Innovation: Scammers have already placed phishing ads in ... (https://www.gate.com/news/detail/14780919)

[3] Monad Announcements – Telegram (https://t.me/s/monad_xyz)

[4] Monad Points Scam - Removal and recovery steps (https://www.pcrisk.com/removal-guides/30349-monad-points-scam)

[5] Hyperliquid Ignites MON Trading with a Staggering $14 ... (https://markets.financialcontent.com/stocks/article/breakingcrypto-2025-10-8-hyperliquid-ignites-mon-trading-with-a-staggering-14-billion-implied-valuation-for-monad)

[6] Hyperliquid Lists "Hyperps" for Monad's MON Token, Price Implies ... (https://cryptonewsradar.com/hyperliquid-lists-hyperps-for-monads-mon-token-price-implies-14-billion-valuation/)

[7] MON Token News: Hyperliquid Lists Monad Perpetuals ... (https://www.coindesk.com/business/2025/10/08/hyperliquid-lists-mon-usd-perpetuals-ahead-of-hotly-anticipated-monad-airdrop)