ZachXBT Alleges More Than $20M in Illicit Flows Through Hyperliquid Service
Photo: TokenPost
On Oct. 20, ZachXBT alleged that cybercrime-linked funds exceeding $20 million entered FreedomXMR, a swap service on Hyperliquid Core, putting scrutiny on the service’s operators. ZachXBT said more than 87% of FreedomXMR’s incoming volume was connected to illicit activity. A manual review of historical inflows above $10,000 traced funds to ransomware, exploits, malware and social engineering, he said. Incidents he identified involved DCENT Wallet, Fetch.ai and Axelar in September 2026, and Gamdom in October. He also alleged the service’s operator sourced Monero (XMR) through KuCoin and that associated addresses made more than 3,000 deposits to the exchange.
Also reported by Blockchain Reporter.
Source: TokenPost
