North Korea Is Cashing Out Bitcoin on Hyperliquid | CoinDesk Daily

Jennifer Sanasie (0:00)

North Korean hackers are quietly cashing out on Hyperliquid, and Trump Jr. is leading a $1 billion bet on Polymarket. This is CoinDesk Daily.

Want trusted crypto research? Check out The Stack, Grayscale's blog. Visit grayscale.com/thestack. RealFi, a smarter stablecoin backed by real world assets. Join the testnet now at realfi.co. North Korea's Lazarus Group has sold more than $30 million in bitcoin on Hyperliquid over the past three weeks, according to analytics firm Arkham. This lands just as the Trump administration explores bringing Hyperliquid into the regulated US system, with CFTC chairman Mike Selig reportedly working on a compliant pathway. Hyperliquid lets users trade straight from a wallet with no account and no KYC checks. That's exactly the sanctions and money laundering risk regulators have been warning about. Donald Trump Jr.'s venture firm, 1789 Capital, is leading a $1 billion funding round Polymarket at a $21 billion valuation. The firm is putting in about $300 million on top of the $200 million it had already invested. That's a 40 percent jump from Polymarket's $15 billion valuation just months ago. Trump Jr. already advises both Polymarket and rival CalShe. And Crypto.com's Kronos halted its entire blockchain on Sunday after an attacker drained roughly $75 million from Tectonic, its largest lending platform. The attacker targeted the Tonic token, pushing its price up about 100-fold in 20 minutes. The damage was fast. Tectonic's total value locked fell from about $122 million on August 26 to roughly $3 million by Monday. Get more updates on coindesk.com. Want trusted crypto research? Check out The Stack, Grayscale's blog. Visit grayscale.com/thestack.

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