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North Korean hackers cash bitcoin on Hyperliquid, then rotate assets

Blockchain data cited by CoinDesk says Lazarus-linked wallets sold over $30 million in bitcoin on Hyperliquid in about the last three weeks, then used proceeds to buy ether and solana.

Reported · Written up by our desk · Market Structure

North Korean hackers linked to the Lazarus Group have reportedly sold more than $30 million in bitcoin on decentralized derivatives platform Hyperliquid in recent weeks, according to blockchain data reviewed by CoinDesk and analyzed by Arkham.

The proceeds from the reported bitcoin sales were then used to acquire ether and solana, with the resulting tokens transferred onward to other crypto exchanges including Kraken, LBank, and KuCoin, CoinDesk said.

The activity is described as happening alongside U.S. President Donald Trump’s administration exploring ways to bring Hyperliquid into the regulated U.S. market.

CoinDesk reported it had not established who controlled the accounts receiving funds at the centralized exchanges, and Hyperliquid did not respond to its comment request. Kraken said compliance is central to its operations and that it monitors onchain activity to block assets associated with sanctioned wallets before they enter its platform, while KuCoin said it could not verify or comment without seeing the data.

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