ZachXBT Links More Than 87% of FreedomXMR Inflows to Illicit Activity

Blockchain investigator ZachXBT alleged Oct. 20 that more than 87% of FreedomXMR's inflow volume on Hyperliquid Core was tied to illicit activity, including over $20 million he traced to cybercrime.

His review examined historical incoming transfers larger than $10,000 each. He linked more than $20 million to ransomware payments, hacks and social engineering attacks. The 87% figure describes the value of incoming funds, not the number of transfers.

The flows ZachXBT identified included funds associated with incidents involving DCENT Wallet, Fetch.ai, Axelar and Gamdom. His allegation concerns the funds entering FreedomXMR, also known as FXMR, and the service's operation.

ZachXBT also alleged that FXMR's administrator obtained Monero (XMR) liquidity through KuCoin. Addresses he associated with the administrator made more than 3,000 deposits to the exchange. Those deposits do not establish that KuCoin operated or knowingly supported the alleged laundering activity.

FreedomXMR appeared on Hyperliquid Core in August 2026. ZachXBT said he shared the blockchain data behind his findings with the Hyperliquid team.