Wallets linked to North Korea’s Lazarus Group moved more than $30 million in Bitcoin through Hyperliquid over a three-week period, according to analyst Emmett Gallic of Arkham. The funds were converted to Ether and Solana before being routed to centralized exchanges including Kraken, LBank, and KuCoin, raising US sanctions concerns. President Trump mentioned Hyperliquid at a White House event, with CFTC Chairman Michael Selig working to bring the exchange to the US market in a compliant manner. The native token HYPE trades at $84, up 5% in 24 hours, with the muted move suggesting traders have not yet priced in sanctions risk. The Lazarus Group, sanctioned by OFAC in 2019, stole approximately $1.6 billion in crypto in the first half of 2025, representing 70% of global crypto losses during that period.
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