Key Takeaways
- • Blockchain investigator ZachXBT found that more than 87% of funds flowing into FreedomXMR, a crypto exchange on Hyperliquid Core, are tied to illicit activities including ransomware, malware, and social engineering attacks.
- • More than $20 million was traced to incidents involving platforms including DCENT Wallet, Fetch.ai, Axelar, and Gamdom.
- • The investigation identified connections to KuCoin for Monero liquidity and thousands of deposits linked to laundering.
- • FreedomXMR's permissionless listing on Hyperliquid raises concerns about the platform enabling centralized laundering services without oversight.
Summary
Blockchain investigator ZachXBT reported that more than 87% of funds flowing into FreedomXMR, a crypto exchange operating on Hyperliquid Core, are tied to illicit activities, including ransomware, malware, and social engineering attacks, according to the primary source, a Pluang-published article.
The investigation traced over $20 million to incidents involving platforms such as DCENT Wallet, Fetch.ai, Axelar, and Gamdom. It also identified connections to KuCoin for Monero liquidity and thousands of deposits linked to laundering activity.
The findings raise concerns about FreedomXMR's permissionless listing on Hyperliquid, which critics argue allows centralized laundering services to operate without oversight. The source does not detail any regulatory response or statement from FreedomXMR or Hyperliquid.
Separately, the article notes that KuCoin Token (KCS) on Pluang traded at Rp130.239 as of Oct 20, 2026 at 20:03 WIB, down 2.57% in one day, with a circulating supply at 70% of maximum and a market cap of Rp18.26 trillion. All Pluang order activity for KCS was sell orders, with a typical hold time of 35 days. The article presents this price data alongside the laundering findings without establishing a direct causal link.
The investigation traced over $20 million to incidents involving platforms such as DCENT Wallet, Fetch.ai, Axelar, and Gamdom. It also identified connections to KuCoin for Monero liquidity and thousands of deposits linked to laundering activity.
The findings raise concerns about FreedomXMR's permissionless listing on Hyperliquid, which critics argue allows centralized laundering services to operate without oversight. The source does not detail any regulatory response or statement from FreedomXMR or Hyperliquid.
Separately, the article notes that KuCoin Token (KCS) on Pluang traded at Rp130.239 as of Oct 20, 2026 at 20:03 WIB, down 2.57% in one day, with a circulating supply at 70% of maximum and a market cap of Rp18.26 trillion. All Pluang order activity for KCS was sell orders, with a typical hold time of 35 days. The article presents this price data alongside the laundering findings without establishing a direct causal link.
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