On-chain investigator ZachXBT published findings on FreedomXMR, a swap service operating on Hyperliquid Core, on October 20, 2026. According to the report, over 87% of its inflows come from illicit activity, totaling more than $20 million. ZachXBT traced the funds to crimes including ransomware, exploits, malware distribution, and social engineering. The service was linked to several high-profile hacks, including exploits affecting DCENT Wallet, Fetch.ai, and Axelar in September 2026, as well as the Gamdom exploit in October 2026. FXMR operates as a swap service exchanging assets for Monero (XMR), a privacy-focused cryptocurrency, with the operator sourcing the digital coin through KuCoin.
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