According to the source, a Hyperliquid user allegedly lost $21 million due to a private key compromise, but this cannot be verified without a non-media primary source. Please provide an official Hyperliquid statement, an on-chain transaction hash from the relevant chain explorer, or a report from a recognized security firm so a trading-oriented analysis with proper citations can be produced.

According to the source, a Hyperliquid user reportedly lost 21 million due to a private key compromise, and traders should monitor venue liquidity, funding rates, open interest, and liquidation prints for potential short-term dislocations following such user-side security incidents (source: the source).