Lazarus Wallet Moves Over $30 Million Through Hyperliquid

Evidence has emerged that wallets linked to North Korea's hacking group Lazarus have moved over $30 million through Hyperliquid and HyperUnit. It is reported that these funds were converted from Bitcoin to Ethereum and Solana before being transferred to centralized exchanges such as Kraken, LBank, and KuCoin. Hyperliquid Labs is in discussions with Payward, the parent company of Kraken, about offering perpetual futures products to U.S. users, and Payward has presented the related structure to the U.S. Commodity Futures Trading Commission (CFTC), but final regulatory approval is still pending. Perpetual futures are derivatives that track the price of the underlying asset without an expiration date, and to offer them to U.S. users, trading, clearing, and customer verification systems must operate within a regulatory framework. HyperUnit serves as the infrastructure for asset movement and conversion within the Hyperliquid ecosystem, making the tracking of fund flows crucial. CME Group and ICE have raised concerns that Hyperliquid's anonymous trading environment could be exploited for price manipulation or sanctions evasion. The movements of Lazarus wallets have been repeated in the past, and if hacking funds flow into exchanges, there may be subsequent actions. This fund movement is related to discussions about Hyperliquid's entry into the U.S. market, and its impact requires further confirmation.

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