Safety and risk

Cannot

Withdraw or transfer funds, approve another key or approve builder fees.

Can

Place and cancel orders, set leverage and margin mode, and adjust isolated margin.

Each approval uses a fresh key, stored encrypted. Only the order-signing services can decrypt it; the public web server cannot. Ending access or expiry disables it, with permanent deletion within two days.

Helmsman never asks for your main wallet’s private key or seed phrase.

At app.hyperliquid.xyz → More → API, remove the key or fee approval. You do not need Helmsman’s website or permission.

Revoking a key removes Helmsman’s ability to act. Do not rely on it to cancel orders or close positions afterward. Check and manage both directly on Hyperliquid. To have Helmsman close positions, use Stop and confirm they are closed before revoking.

• Leverage can consume all the margin in a position. Isolated margin limits a liquidation to that position; it cannot prevent liquidation.
• An isolated position can liquidate while a trader using cross margin survives. A lower leverage cap can reduce this exposure.
• Your order arrives later and may fill at a substantially different price.
• A selected trader can lose money. Public history does not determine their next trade.
• Software and operations can fail. If the engine stops, the separate safety process alerts the Helmsman team and keeps enforcing drawdown stops, but it can also fail.