ZachXBT links over 87% of FreedomXMR inflows on Hyperliquid to illicit funds

Blockchain investigator ZachXBT has linked more than 87% of inflows into FreedomXMR, a cryptocurrency exchange service operating on Hyperliquid Core, to suspected illicit activity, with over $20 million traced to cybercrime-related sources. ZachXBT says more than 87% of funds entering FreedomXMR on Hyperliquid Core are linked to illicit activity. The investigator traced over $20 million to ransomware, exploits, malware and social engineering attacks. The identified incidents include attacks involving DCENT Wallet, Fetch.ai, Axelar and Gamdom. ZachXBT linked the service's Monero liquidity to KuCoin and identified more than 3,000 exchange deposits.

Source: crypto.news