OKX Founder and CEO Star publicly challenged CZ's recent assertion that Hyperliquid's operations are non-compliant. In response to CZ's interview remarks stating he would never replicate Hyperliquid's model due to regulatory risks, Star disclosed that CZ established a shell company to copy the business structure while personally promoting it.

Star questioned the validity of this approach, noting that if the business model, resources, personnel, and incentive mechanisms remain identical, the distinction is merely superficial. This critique underscores the complex debate surrounding regulatory arbitrage and competitive imitation within the decentralized exchange sector.