North Korea state-sponsored hackers are moving tens of millions of dollars in stolen funds on the decentralized perpetual contract exchange Hyperliquid, while the Trump administration pushes to bring the platform onshore and under U.S. regulatory frameworks. Hyperliquid is built on its own high-performance blockchain, utilizes self-custody, and has yet to publicly respond to the cyberattack or market crash. The onshoring initiative could change its operating model, impact access for U.S. users, and set a precedent for DeFi regulation.