Lazarus Group Suspected of Laundering $30 Million Through Hyperliquid

North Korea's Lazarus Group is suspected of laundering $30 million through the decentralized exchange Hyperliquid. The funds were converted from Bitcoin (BTC) into Ether (ETH) and Solana (SOL), then bridged across multiple networks before being traced to various crypto services.

Lazarus has been named a main suspect in several high-profile cryptocurrency hacks, including the $1.4 billion Bybit hack. 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.

According to an analysis by Emmit Gallek, a researcher from Arkham, wallet addresses linked to Lazarus deposited Bitcoin into Hyperliquid and Hyperunit, exchanged it for Ether or Solana, and then bridged the funds across various networks. The funds were ultimately traced to crypto exchanges KuCoin, Kraken, and LBank.