KCS
−2.1%
AXL
−7.2%ZachXBT links over 87% of FreedomXMR inflows to illicit activity
Image: Crypto.newsBlockchain investigator ZachXBT linked more than 87% of inflows into FreedomXMR, or FXMR, to illicit activity. He traced over $20 million to ransomware, exploits, malware and social engineering, including September 2026 incidents involving DCENT Wallet, Fetch.ai and Axelar. The service operates on Hyperliquid Core and reportedly appeared in August 2026. ZachXBT tied its Monero liquidity to KuCoin and counted more than 3,000 deposits. He shared supporting data with the Hyperliquid team. The FXMR ticker was acquired in a Hyperliquid auction for 518.28 HYPE, approximately $28,000 at the time.
Key points
- ZachXBT linked more than 87% of FreedomXMR inflows on Hyperliquid Core to illicit activity.
- He traced over $20 million to ransomware, exploits, malware and social engineering.
- The service reportedly appeared in August 2026 and used the FXMR ticker on Hyperliquid.
- ZachXBT tied FreedomXMR's Monero liquidity to KuCoin and counted more than 3,000 deposits.
- The FXMR ticker was acquired in a Hyperliquid auction for 518.28 HYPE, approximately $28,000 at the time.
Why it matters
The findings concern a swap service on Hyperliquid Core and the Hyperliquid auction used for its FXMR ticker. ZachXBT said he shared supporting blockchain data with the Hyperliquid team.
Price context · HYPE
At publication
$78.49
Now
$78.95
Change since
+0.59%
7 days · dashed line = publication
Sources · 2 publishers
Crypto.news
Tier 2
ZachXBT links over 87% of FreedomXMR inflows on Hyperliquid to illicit funds
Coverage timeline
- First reported by Crypto Briefing
- Also reported by Crypto.news
- CryptoVideos brief published
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