A decentralized trading platform can be transparent and still create a difficult compliance question.
Arkham data reportedly shows wallets linked to North Korea’s Lazarus Group sold more than $30M in BTC through Hyperliquid over three weeks, converting the funds into ETH and SOL before moving them toward centralized exchanges.
What caught my attention is the timing.
At the same time, Payward is reportedly discussing a regulated route for U.S. traders to access selected Hyperliquid perpetuals through Bitnomial.
That creates an interesting contrast: permissionless wallet-based trading on one side, and regulated access with screening and account-level controls on the other.
The question isn’t simply whether blockchain transactions are traceable. It’s whether traceability alone is enough for regulated markets.
How do you see this balance?
#Hyperliquid #hype #defi #crypto