US sanctions cryptocurrency mixer Sinbad over alleged North Korea ties
investing.comWASHINGTON (Reuters) -The United States on Wednesday imposed sanctions on a virtual currency mixer the Treasury Department said has processed millions of dollars worth of cryptocurrency from major heists carried out by North Korea-linked hackers.
The Treasury Department said in a statement that virtual currency mixer Sinbad, which was hit with sanctions on Wednesday, processed millions of dollars worth of virtual currency from heists carried out by the North Korea-linked Lazarus Group, including the Axie Infinity and Horizon Bridge heists of hundreds of millions of dollars.
Lazarus, which has been sanctioned by the U.S., has been accused of carrying out some of the largest virtual currency heists to date. In March 2022, for example, it allegedly stole about $620 million in virtual currency from a blockchain project linked to the online game Axie Infinity.
The Federal Bureau of Investigation said in January that Lazarus was responsible for the theft of $100 million from U.S. crypto firm Harmony's Horizon bridge.
«Mixing services that enable criminal actors, such as the Lazarus Group, to launder stolen assets will face serious consequences,» Deputy Treasury Secretary Wally Adeyemo said in the statement on Wednesday.
«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.»
Sinbad did not immediately respond to an emailed request for comment. Its website displays a message that the service has been seized as part of a coordinated law-enforcement action between the FBI and agencies in Finland and the Netherlands.
North Korea's mission to the United Nations did not immediately respond to a
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