Hyperliquid [HYPE] is having a nice run. But are darker instances forward?
A brand new cash laundering report has given Hyperliquid some very awkward publicity. This occurred in tandem with perps knocking on regulators’ doorways.
Is Hyperliquid’s lead secure? Let’s take a look.
Hyperliquid earns $2.5M in a day!
The fee chart isn’t shut in any respect.
Hyperliquid made $2.5 million in fees over 24 hours on twentieth October. Lighter got here second with $198K, and that was 12x decrease!
Aster took third at $123K, and Jupiter perp was fourth at $102K. After that, Antartic, GMTrade, Nado, edgeX, GMX and Extended, all someplace between $47K and $86K.
Here’s what’s wild. Add up everypne from second to tenth place, and also you get about $836K. Hyperliquid’s lead is solidified with its charges being 3x over the entire different names on the checklist… put collectively.
A cash laundering scheme involves mild
Now, right here’s the place it will get messy.
ZachXBT, the on-chain sleuth, has been digging into one thing known as FreedomXMR, or FXMR. It popped up on Hyperliquid Core in August 2026.
His verdict is that it’s a laundering service, claiming that over 87% of the cash coming into it may be tied to illicit exercise.
He went by way of previous inflows greater than $10,000 every. More than $20 million of that was traced again to ransomware, exploits, and social engineering scams. Names like DCENT Wallet, Fetch.ai, Axelar and Gamdom confirmed up within the combine.
It is reported that FXMR’s admin bought their XMR from KuCoin. Addresses linked to them remodeled 3,000 deposits on the change.
For his half, the on-chain sleuth has handed all of the on-chain information to the Hyperliquid workforce.
Now, that is a service operating on Hyperliquid, not Hyperliquid itself. However, whenever you’re the most important perp DEX on the town, persons are going to ask what you’re doing about it.
HPC asks the CFTC for compute perps
Meanwhile, perps try to go legit within the United States.
Hyperliquid Policy Center wants the CFTC to permit perps on compute, the chip energy behind AI. The CFTC accredited its first perp in May and began asking about compute in August.
Why hassle? Compute costs swing a lot. Renting an NVIDIA H100 price $2.50 to $3.19 an hour in late 2024. A yr later, it had fallen to round $2. Data facilities had no approach to hedge that drop.
HPC will proceed working with the Commission and its employees to offer Americans entry to onchain markets underneath American oversight.
And in contrast to oil, you possibly can’t retailer compute. It’s used the hour it’s made, so the danger by no means takes a break. HPC believes that a contract with no expiry date suits that completely.
They referenced commerce[XYZ]’s crude oil perps on Hyperliquid for instance.
Final Summary
- Hyperliquid earned $2.5 million in charges in 24 hours!
- Over $20 million was concerned in hacks and scams, flowing by way of Hyperliquid Core.
