Threat Intelligence

Lazarus-linked cryptomixing service subjected to US sanctions

Reuters reports that cryptocurrency mixing service Sinbad has been sanctioned by the U.S. government for facilitating the laundering of millions of dollars worth of cryptocurrency stolen by North Korea's Lazarus Group from cryptocurrency heists against Horizon Bridge, Axie Infinity, and other cryptocurrency platforms. Sinbad also had its website seized in an international law enforcement operation that involved the FBI and agencies in the Netherlands and Finland. Threat actors have also leveraged Sinbad, which is believed to be the successor of the sanctioned Blender mixer, to conceal malicious activities aside from cyberattacks, according to the U.S. Department of the Treasury. Individuals continuing to deal with Sinbad could also be penalized under the sanctions. "Mixing services that enable criminal actors, such as the Lazarus Group, to launder stolen assets will face serious consequences. The Treasury Department and its U.S. government partners stand ready to deploy all tools at their disposal to prevent virtual currency mixers, like Sinbad, from facilitating illicit activities," said Deputy Treasury Secretary Wally Adeyemo.

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