On-chain investigator ZachXBT claims that over 87% of the trading volume flowing into the centralized money laundering service FreedomXMR (FXMR), which appeared on Hyperliquid Core in August 2026, is linked to illegal activities. Evidence has been submitted to the Hyperliquid team. Their manual review of inflows exceeding $10,000 per transaction revealed that over $20 million can be traced back to ransomware, exploit attacks, and other incidents. FXMR administrators reportedly obtained Monero liquidity via KuCoin, with related addresses depositing funds into the exchange over 3,000 times. The Hyperliquid team has yet to confirm any action.