North Korea's Lazarus Group Exploits Hyperliquid for Sanctions-Busting Millions

North Korean hackers have been actively using the decentralized derivatives trading platform Hyperliquid to transfer millions of dollars worth of cryptocurrency. According to data from blockchain analytics firm Arkham, wallets associated with the Lazarus Group sold over $30 million worth of Bitcoin on the platform in just the past three weeks.

The proceeds were converted into Ethereum and Solana before being transferred to centralized exchanges such as Kraken, LBank, and KuCoin. This activity has raised concerns about potential violations of U.S. sanctions law, which could draw regulators and related parties into trouble with U.S. authorities.

The Trump administration is exploring ways to bring Hyperliquid into a regulated American market. CFTC Chair Mike Selig is spearheading the development of a 'fully compliant, legal' route for the exchange to establish a presence in the U.S.