Key Takeaways
According to BlockchainReporter, Arkham data shows North Korea's Lazarus Group sold over $30M in bitcoin on Hyperliquid.
According to BlockchainReporter, wallets linked to North Korea's Lazarus Group sold over $30 million in bitcoin on the Hyperliquid derivatives platform over three weeks. Blockchain data reviewed by analytics firm Arkham indicated the proceeds were converted into ether and Solana before being routed to centralized exchanges including Kraken, LBank, and KuCoin. The wallets were originally flagged by on-chain investigator ZachXBT in 2024.
The activity coincides with efforts by the Trump administration to bring Hyperliquid into the regulated U.S. financial system, raising sanctions and anti-money-laundering concerns regarding permissionless trading. Kraken noted its compliance programs block assets from sanctioned wallets, while LBank and KuCoin commented on monitoring and on-chain data limitations. Hyperliquid did not respond to requests for comment.
Previous instances include North Korea-linked wallets trading on Hyperliquid in late 2024, prompting substantial net outflows. Regulatory filings for proposed investment products tied to the platform's HYPE token have previously noted sanctions risks. Chainalysis data indicated that values received by sanctioned entities surged during 2025.
Source & Fact-Check Note
This report is synthesized from coverage by BlockchainReporter. Information has been fact-checked and structured for market clarity by CoinQuickly’s research desk.
Read original article at BlockchainReporter ↗
