The Vermulan's past is our future. The Vermulans are from the future, and they came back in time to reinforce their empire. It is believed they time travelled back from the Human Year 3321, back to the year 2512. This has helped grow Vermulan population in their time up to inconcievable numbers.
Vermulan activity has, up until now, been unseen, they have just been lying back and growing their numbers and continuing technological development. In recent years, they have been more noticable. During the attack of the Quantumhorde, they did try to capture some of the hordes mass, which they mostly failed at.
Although invisble under the Vermulan's cloaks, the Vermulans do have hair. It is a silver colour, and when uncovered, it's length goes down to the Vermulan's neck. Unlike human hair, it does not continue growing, if a Vermulan loses its hair, its not getting it back.
As for bodily hair, Vermulans lack it, but retain the follicles, which are used by their suits.