Lazarus Group Uses Hyperliquid to Launder $30M

North Korea's Lazarus Group has allegedly used Hyperliquid to launder $30 million in stolen cryptocurrency. This is according to on-chain tracking, which revealed that four outflows of Bitcoin were made from wallets previously identified as being connected to the group.

The investigation, led by pseudonymous blockchain investigator ZachXBT, traced over $200 million in stolen cryptocurrency from 25+ hacks back in May 2024. The stolen funds were then moved into the Hyperliquid ecosystem and converted into Ethereum and Solana.

The activity raises regulatory concerns as the Lazarus Group has been sanctioned by the U.S. Treasury's Office of Foreign Assets Control (OFAC). This is particularly sensitive given that Hyperliquid is being considered for a compliant U.S. expansion, with CFTC Chairman Michael Selig reportedly leading the effort.