North Korea Is Cashing Out Bitcoin on Hyperliquid | CoinDesk Daily

North Korean hackers, particularly the Lazarus Group, have sold over $30 million in bitcoin on Hyperliquid in the last three weeks, raising significant concerns about sanctions and money laundering. Hyperliquid's model allows users to trade directly from their wallets without requiring an account or KYC checks, which has drawn scrutiny from regulators.

The Trump administration is contemplating the integration of Hyperliquid into the regulated U.S. financial system, highlighting the platform's controversial nature. This potential move underscores the ongoing tension between innovation in cryptocurrency trading and regulatory compliance.

In a related financial development, Donald Trump Jr.'s venture firm, 1789 Capital, is spearheading a $1 billion funding round for Polymarket, which has seen its valuation soar from $15 billion to $21 billion in a matter of months. This funding round includes a substantial investment of approximately $300 million from 1789 Capital, building on a previous investment of $200 million.

Trump Jr. is also advising both Polymarket and its competitor, Kelsey, indicating his active involvement in the evolving landscape of prediction markets. This involvement may influence the competitive dynamics between these platforms as they seek to capture market share.

In another significant incident, Crypto.com's Kronos halted its entire blockchain following a major security breach that resulted in the theft of around $75 million from Tectonic. The attack specifically targeted the tonic token, leading to a dramatic price surge of nearly 100-fold within just 20 minutes.

As a consequence of the attack, Tectonic's total value locked plummeted from approximately $122 million on August 26 to about $3 million by the following Monday, illustrating the volatility and risks associated with cryptocurrency investments. This incident further emphasizes the need for robust security measures in the rapidly evolving crypto space.