$30M+ Lazarus Group Transfers Exposed Through Hyperliquid Amid US Entry Talks

North Korea's Lazarus Group has moved over $30 million through Hyperliquid, a decentralized derivatives exchange, in the past three weeks. The funds were routed via HyperUnit and converted from Bitcoin into Ethereum and Solana before being bridged to several networks and delivered to centralized exchanges such as KuCoin and LBank.

The transactions were tracked by Arkham researcher Emmett Gallic using on-chain data. Wallets connected to the Office of Foreign Assets Control (OFAC)-sanctioned Lazarus Group have been active on Hyperliquid, with $19.42 million in Bitcoin value being transferred between July 30 and August 28.

The transfers were used to acquire Ether (ETH) and Solana (SOL), which were then bridged to Tron, Solana, and Ethereum before being sent to centralized exchanges. This pattern of splitting proceeds across multiple venues is a well-documented method used by sanctioned entities to obscure the ultimate destination of illicit funds.