Jupiter Chief Operating Officer Kash Dhanda said the platform handled deposits and withdrawals of about $1.46 million linked by an analyst to suspected North Korean hackers, with liquidity provider tokens preserving the trail’s traceability.
Dhanda said liquidity provider tokens preserved a traceable link to the funds’ original source. He said he did not view Jupiter’s role in the activity as laundering and that the company’s security staff were following the transfers as they unfolded.
On-chain analyst @FabianoSolana identified a Solana wallet beginning with AffzFD as the starting point and said the FBI had flagged it. The analyst said the funds passed through intermediary wallets, spread across around 35 temporary addresses and later reconverged at Jupiter Lend. Minutes later, a different new wallet withdrew a comparable sum.
After conversion to USD Coin (USDC), the funds left Solana via Circle’s cross-chain bridge, the analyst said. They later went through Noble and dYdX and arrived at another Solana address.
Across the route, the analyst counted 16 transfers totaling about $1.4634 million out and 19 bringing back a comparable sum; the gap was roughly $10. According to the analyst, no freeze had been imposed on the funds.
