- Lazarus-linked wallets moved over $30M through Hyperliquid.
- Funds were converted from Bitcoin into ETH and SOL.
- Payward explores regulated Hyperliquid access for US traders.
Wallets linked to the Lazarus Group moved more than $30 million in Bitcoin through Hyperliquid over three weeks, according to blockchain analytics data. The transfers occurred while U.S. officials and Payward, Kraken’s parent company, reportedly explored a regulated path to access Hyperliquid perpetual futures.
The Lazarus Group wallets sold Bitcoin and used the proceeds to purchase Ethereum and Solana before moving assets toward centralized exchanges, including Kraken, LBank, and KuCoin. Blockchain records show transaction flows but do not confirm exchange account ownership or whether platforms identified the source of funds.
Lazarus Group Transfers Raise Hyperliquid Concerns
The Lazarus Group is linked by U.S. authorities to North Korea’s state-sponsored cyber operations. The group has previously been associated with major crypto thefts, including the $625 million Ronin Network attack in 2022, according to crypto investigator ZachXBT.
The recent activity adds attention to Hyperliquid’s decentralized structure, where users trade perpetual contracts through connected wallets. Analysts note that public blockchain records allow transaction tracking, but tracing ownership after assets reach exchanges can remain difficult.
Hyperliquid has processed trillions of dollars in perpetual futures volume, making compliance measures a key focus as regulators consider broader market access.
Hyperliquid US Expansion Faces Compliance Tests
Meanwhile, Payward is reportedly discussing a structure that could allow U.S. traders to access selected Hyperliquid perpetual contracts through Bitnomial, a CFTC-regulated derivatives platform.
A regulated model could address concerns around customer identification, sanctions screening, and market oversight. However, any agreement would require regulatory approval before launch.
The Lazarus Group-linked transfers highlight the challenge facing decentralized trading platforms as they seek wider adoption. Security firms and exchanges continue improving monitoring systems after North Korean-linked attacks expanded across exchanges, bridges, and DeFi protocols.
Hyperliquid’s future U.S. presence will depend on balancing open blockchain access with stronger compliance requirements.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.
