Posted 11/30/2023, 8:51:14 PM
Crypto Mixing Service Sinbad Sanctioned for Enabling North Korean Hackers to Launder Millions in Stolen Funds
- Blender coin mixing service relaunched as Sinbad after being sanctioned by U.S. authorities earlier this year
- Sinbad has now also been sanctioned for enabling North Korean hacking group Lazarus Group to launder millions in stolen crypto
- Sinbad allegedly used by criminals to hide transactions linked to sanctions evasion, drug trafficking, child sexual abuse materials, and darknet sales
- Hackers used Sinbad to launder funds stolen in $620M Axie Infinity and $100M Horizon Bridge crypto heists
- U.S. previously sanctioned another major coin mixer, Tornado Cash, for enabling Lazarus Group, though the move was criticized as violating users' privacy rights