U.S. Sanctions North Korean-Linked Cryptocurrency Mixer for Enabling Cybercrime Funding
• U.S. sanctioning virtual currency mixer Sinbad.io for processing millions in stolen funds by North Korea's Lazarus Group.
• Sinbad enabled money laundering for North Korea's weapons programs and other illicit activities like drugs and child exploitation material trade.
• Actions build on previous efforts to disrupt North Korea's funding streams and cyber threats.
• Designation under executive orders for assisting Lazarus Group hacking and sanctions evasion.
• Cuts off Sinbad's access to U.S. financial system and ramps up pressure on North Korea's cyber operations.