Lazarus Group Wallets Moved $30M in Bitcoin Through Hyperliquid in Three Weeks

Wallets linked to North Korea’s Lazarus Group sold more than $30 million worth of bitcoin through Hyperliquid over the past three weeks, according to blockchain data reviewed by CoinDesk. BeInCrypto reported the same $30 million figure in a separate piece asking whether the disclosure could complicate Hyperliquid’s push to establish a regulated US presence, a plan that has drawn public backing tied to the Trump administration.

What the $30 Million Figure Actually Rests On

CoinDesk attributes the transaction total to its own review of on-chain data, tracing wallet addresses it links to Lazarus, the hacking unit tied to North Korea’s government that has been blamed for a string of exchange breaches over the past decade. BeInCrypto’s report carries the identical $30 million figure and the three-week window, but its own excerpt does not point to a separate, independently sourced blockchain trace.

That matters for how much weight the number should carry. Two outlets publishing the same figure is not the same as two independent chains of verification. Based on what’s available, the underlying event, a $30 million bitcoin sell-off through Hyperliquid attributed to Lazarus-linked wallets, traces back to a single documented data review, even though it has now circulated across more than one publication.

Timing Against the US Onshoring Push

The reported activity lands as Hyperliquid pursues a route toward operating inside US regulatory boundaries, a plan both outlets describe as having momentum from the Trump administration. Cryptaur previously reported that Hyperliquid had held talks touching Kraken’s parent company as its HYPE token traded near $84, part of the same broader effort to bring the platform onshore.

Neither source in this story cites a statement from Hyperliquid, US Treasury officials, or a named regulator addressing the alleged Lazarus wallet activity directly. No sanctions action, freeze order, or platform-level response to the specific wallets is documented in either report.

Why the Sourcing Gap Is the Story Here

Lazarus Group’s use of decentralized exchanges to convert stolen or laundered funds into liquid assets is a well-documented pattern; on-chain investigators have flagged similar behavior on other platforms in prior years. What’s new in this instance is the specific $30 million figure and the Hyperliquid destination, both of which currently rest on one documented data pull rather than confirmed independent tracing.

Until a second, independently sourced on-chain review or an official statement surfaces, the $30 million total should be read as reported by one outlet’s analysis and repeated elsewhere, not as a figure confirmed through separate methodologies. That distinction sits at the center of whether this becomes a genuine obstacle to Hyperliquid’s US plans or a claim that fades without further corroboration.

Read more: Hyperliquid Talks Kraken Parent Entry as HYPE Trades Near $84

Sources

• beincrypto.com
• coindesk.com