Lazarus Group wallets moved $30M through Hyperliquid amid U.S. regulatory talks on bringing the DEX into compliance.
DeFi & Yields ·
According to blockchain researcher Emmett Gallic at Arkham, addresses associated with the OFAC-sanctioned Lazarus Group moved more than $30 million through Hyperliquid, with transactions continuing through Aug. 31. The flow pattern involved converting Bitcoin to Ether and SOL, bridging to multiple blockchains, and routing funds to major exchanges including KuCoin, LBank, and Kraken, as well as unlabeled Tron-based services.
The movement coincides with concurrent U.S. regulatory efforts. President Donald Trump announced in August that CFTC Chairman Mike Selig was developing a pathway for Hyperliquid to operate domestically in a compliant manner. Separately, Kraken's parent company Payward is in advanced negotiations with Hyperliquid Labs regarding a potential structure that would enable U.S. users to access a portion of Hyperliquid-linked perpetual futures contracts through the regulated Bitnomial exchange and clearinghouse, contingent on regulatory sign-off.
The timing raises questions about whether the Lazarus activity signals broader use of Hyperliquid by sanctioned actors, or whether it represents isolated transactions. The regulatory talks remain preliminary, with final approval status still unresolved.