Lazarus Group's $30M Hyperliquid Trail Exposed

North Korea's Lazarus Group has been linked to a $30M flow of funds through the Hyperliquid platform. The trail was exposed by blockchain intelligence firm Arkham, which tracked the movement of Bitcoin into ETH and SOL before bridging across multiple networks and landing on several centralized exchanges.

The funds first arrived as Bitcoin, were swapped into ETH and SOL, and then bridged out across Tron, Solana, and Ethereum. Onchain records show four separate outbound transfers from labeled Lazarus-linked wallets between late July and late August, moving between roughly 122 and 244 Bitcoin per transaction.

Deposit records tied to this trail show dozens of smaller transfers moving through LBank and Kraken over just a few days in mid-August, each ranging from roughly 50 to 250 SOL. The funds eventually landed at KuCoin, LBank, Kraken, and Tron-based services.