DeFi ✓LaunchBar Newsroom 📅 October 21, 2026 at 07:30 AM ⏱ 2 min

Hyperliquid Pulls $2.5M in Fees—But a $20M Allegation Puts It Under Scrutiny

Hyperliquid generated $2.5M in perp fees in 24 hours, far ahead of rivals. Separately, ZachXBT says a service on Hyperliquid Core may have processed more than $20M linked to alleged illicit activity; this is an allegation about the service, not proof of wrongdoing by Hyperliquid.

Hyperliquid’s reported daily fees were about 3x the combined total of places two through ten.
ZachXBT says over 87% of FreedomXMR inflows may be tied to illicit activity.
The investigator says on-chain data was shared with Hyperliquid; no response or enforcement outcome is specified.

The fee dominance confirms Hyperliquid’s grip on perp trading, but scrutiny of an application in its ecosystem is a real reputational risk. Traders should watch for a team response and any change in volume or fees—not treat allegations as confirmed findings.

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