Feds confiscate Sinbad crypto mixer linked to North Korean hackers.
US authorities have seized the website of Sinbad, a cryptocurrency mixer allegedly used by North Korean hackers to launder stolen funds. Sinbad processed millions of dollars worth of virtual currency, including proceeds from the Lazarus Group’s massive hacks. The Treasury Department’s OFAC announced sanctions on Sinbad, stating that such mixers enable criminals to launder stolen assets. The FBI and cryptocurrency monitoring firm Ellipt previously identified Lazarus Group’s use of Sinbad to launder stolen crypto.
Table of Contents: Feds confiscate Sinbad crypto mixer linked to North Korean hackers.
- FBI investigates Dutch financial intelligence service for alleged use of crypto mixer
- North Korean hackers accused of using crypto mixer to launder stolen funds
- US Treasury Department announces sanctions on Sinbad Bitcoin mixer service
- Lazarus Group, a prolific hacking group believed to work for the North Korean government, utilizes Sinbad crypto mixer
- Sinbad crypto mixer processed millions of dollars worth of virtual currency from Lazarus Group heist
- US government warns of serious consequences for criminals using crypto mixers like Sinbad
FBI investigates Dutch financial intelligence service for alleged use of crypto mixer
The FBI is investigating the Dutch financial intelligence service for its alleged use of a cryptocurrency mixing service. The service, called Sinbad, is said to have been used by North Korean hackers, cybercriminals, and other illicit actors to launder stolen funds and obfuscate their transactions. On Wednesday, the US Department of the Treasury’s Office of Foreign Assets Control (OFAC) announced sanctions against Sinbad, describing it as a key money laundering tool for the Lazarus Group, a prolific hacking group widely believed to work for the North Korean government. According to OFAC, Sinbad has processed millions of dollars’ worth of virtual currency, including proceeds from the massive hacks of Horizon Bridge, Axie Infinity, and Ronin Network, which resulted in losses of $100 million, $625 million, and $620 million, respectively. Mixing services like Sinbad enable criminal actors, including the Lazarus Group, to launder stolen assets, potentially leading to severe consequences. US Deputy Secretary of the Treasury Wally Adeyemo emphasized the Treasury Department and US government’s readiness to deploy tools to prevent virtual currency mixers like Sinbad from facilitating illicit activities. The FBI declined to comment on the investigation.
North Korean hackers accused of using crypto mixer to launder stolen funds
In a significant development, the United States Department of the Treasury’s Office of Foreign Assets Control (OFAC) has announced sanctions against Sinbad, a bitcoin mixer service allegedly used by North Korean hackers, including the infamous Lazarus Group. This action underscores the US government’s commitment to combatting illicit activities and deterring malicious actors in the digital asset ecosystem. Sinbad is believed to have processed millions of dollars worth of virtual currency, including proceeds from cybercrimes perpetrated by the Lazarus Group, such as the massive hack of Horizon Bridge, Axie Infinity, and Ronin Network, resulting in losses exceeding hundreds of millions of dollars. By designating Sinbad as a sanctioned entity, the US government aims to disrupt the flow of illicit funds and mitigate the risks posed by North Korean cyber threats.
US Treasury Department announces sanctions on Sinbad Bitcoin mixer service
In a significant move to combat illicit financial activities, the US Treasury Department, through its Office of Foreign Assets Control (OFAC), has announced sanctions on Sinbad, a prominent Bitcoin mixer service. Sinbad has been identified as a key money laundering tool utilized by the notorious Lazarus Group, a prolific hacking group widely believed to be working for the North Korean government. According to a statement released by the Treasury Department, Sinbad has processed millions of dollars worth of virtual currency, including proceeds from the Lazarus Group’s heists, such as the massive hacks of Horizon Bridge, Axie Infinity, and Ronin Network, which resulted in the theft of millions of dollars. By enabling criminals and the Lazarus Group to launder stolen assets, Sinbad poses serious consequences for financial stability and national security. Deputy Secretary of the Treasury Wally Adeyemo emphasized the department’s readiness to deploy all available tools to prevent virtual currency mixers like Sinbad from facilitating illicit activities. The FBI also confirmed its involvement in the investigation but declined to provide further comments.
Lazarus Group, a prolific hacking group believed to work for the North Korean government, utilizes Sinbad crypto mixer
The Lazarus Group, a notorious hacking group linked to the North Korean government, has been utilizing the Sinbad crypto mixer to launder stolen funds and obfuscate their transactions. According to the US Department of the Treasury’s Office of Foreign Assets Control (OFAC), Sinbad has processed millions of dollars worth of virtual currency, including proceeds from the massive hack of Horizon Bridge and Axie Infinity, resulting in losses of $100 million and $625 million, respectively. This crypto-mixing service enables criminals and the Lazarus Group to launder stolen assets, posing serious consequences for the financial system.
Sinbad crypto mixer processed millions of dollars worth of virtual currency from Lazarus Group heist
Sinbad, a cryptocurrency mixer, has been revealed to have processed millions of dollars worth of virtual currency stolen in the Lazarus Group heist. The heist, which targeted the Horizon Bridge, Axie Infinity, and Ronin networks, resulted in the theft of millions of dollars in cryptocurrency. Sinbad’s role in laundering the stolen funds has raised concerns among law enforcement and financial intelligence agencies, as it highlights the increasing use of cryptocurrency mixers by cybercriminals to obfuscate their transactions.
US government warns of serious consequences for criminals using crypto mixers like Sinbad
In a significant move, the United States government has issued a stern warning to criminals engaging in illicit activities using cryptocurrency mixers like Sinbad. The government’s concerns stem from the alleged involvement of Sinbad in facilitating money laundering for the notorious Lazarus Group, a prolific hacking group widely believed to be working under the North Korean government’s auspices. According to the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC), Sinbad has processed millions of dollars’ worth of virtual currency for the Lazarus Group, including proceeds from massive hacks such as the Horizon Bridge, Axie Infinity, and Ronin Bridge incidents, resulting in the theft of millions of dollars.