Hyperliquid, North Korean Hacker Money Laundering Controversy... Is its Entry into the US Market Okay Like This?

▲ North Korea, virtual assets, cryptocurrency hacking, money laundering, Hyperliquid (HYPE)/AI generated image

Evidence has been found that the Lazarus Group moved $30 million through Hyperliquid.

According to Cointelegraph on September 1 (local time), cryptocurrency wallets linked to the North Korean-affiliated hacking group Lazarus Group moved $30 million worth of digital assets from Hyperliquid. These wallets are connected to entities sanctioned by the U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC). Arkham analyst Emmett Gallic disclosed the relevant blockchain data via X (formerly Twitter).

During the fund movement, Bitcoin (BTC) flowed into Hyperliquid and HyperUnit. Subsequently, Bitcoin was exchanged for Ethereum (ETH) or Solana (SOL). The exchanged assets were then moved to the Tron (TRX), Solana, and Ethereum networks. Finally, some funds were sent to KuCoin, Kraken, LBank, and unidentified services based on the Tron network.

The timing is also sensitive. On August 16, at a White House event, U.S. President Donald Trump announced that Michael Selig, Chairman of the U.S. Commodity Futures Trading Commission (CFTC), was developing regulatory measures to allow Hyperliquid to enter the U.S. market. The movement of funds linked to the Lazarus Group was confirmed amidst discussions about its entry into the institutional framework within the U.S.

The Lazarus Group has been repeatedly identified as being behind major cryptocurrency hacking incidents. Cointelegraph reported that the $1.4 billion Bybit hack in 2025 was also an incident where the Lazarus Group was named as a prime suspect. At the time, that hack was recorded as the largest single theft incident in the cryptocurrency industry.

The scale of cryptocurrency theft by North Korean-affiliated hacking groups remains significant. Of the $634 million stolen in cryptocurrency-related security incidents last April, at least $578 million was found to be linked to North Korean threat actors. This $30 million fund movement identified at Hyperliquid has also been confirmed as a case of tracking the movement paths of sanctioned wallets.

[Article Summary]

-Evidence has been found that Lazarus Group-linked wallets moved $30 million worth of digital assets through Hyperliquid.

-Bitcoin was exchanged for Ethereum and Solana, then moved to various blockchains including KuCoin, Kraken, and LBank.

-This fund movement was confirmed at a time when U.S. authorities are discussing regulatory measures for Hyperliquid's entry into the U.S. market.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*