$30M IN CRYPTO MOVED THROUGH HYPERLIQUID, ANALYST SAYS LAZARUS

🚨 $30 million in crypto is alleged to have been washed through decentralized exchange Hyperliquid.

bloomingbit reports, citing Cointelegraph's September 1 story, that Arkham analyst Emmit Gallek wrote on X that wallet addresses linked to North Korea's Lazarus Group deposited Bitcoin into Hyperliquid and Hyperunit.

The Bitcoin was allegedly exchanged for Ether or Solana. The funds were then bridged across the Tron, Solana and Ethereum networks.

According to the analysis, the money was ultimately traced to crypto exchanges KuCoin, Kraken and LBank, along with multiple unidentified services on the Tron network.

That is the part exchanges care about. Chain-hopping between networks is what makes a trail hard to follow, and every venue on the receiving end has a compliance problem to answer for.

Lazarus has been named a main suspect in several of the largest crypto hacks on record, including the $1.4 billion Bybit hack in 2025.

The scale is not small. North Korea-linked hacking groups are estimated to have been involved in at least $578 million of the $634 million in crypto-related losses recorded in April.

None of this has been proven in court. It is on-chain analysis published by a researcher, and the wallets are described as linked, not confirmed.

Should exchanges be forced to freeze funds the moment a flagged wallet touches them?

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