YoMix Replaces Sanctioned Sinbad Mixer for Lazarus Hacker Group: Chainalysis

cryptonews.com:

After sanctions were imposed on Tornado Cash and Sinbad was shut down following similar actions against the platform,  Chainalysis revealed that YoMix , a Bitcoin mixer, has stepped in as an alternative for the North Korean Lazarus Group

Recent discoveries by the blockchain analysis firm show that a wallet linked to North Korean hacking operations received funds from YoMix, whereas it used to receive funds from Sinbad.

On Thursday, the leading blockchain analytics firm, Chainalysis, revealed in a report published that North Korean hackers associated with the notorious Lazarus Group have shifted to employing novel money laundering techniques and are increasingly utilizing cross-chain bridges to obfuscate the origins of illicitly obtained cryptocurrency funds.

The Lazarus Group, infamous for its involvement in numerous hacks targeting crypto companies and protocols such as  Harmony ,  Coincheck ,  and Atomic Wallet , among others, has historically relied on services like the Tornado Cash mixing protocol and the Sinbad mixer. However, according to Chainalysis, the group has now transitioned to a new mixing service called YoMix.

Chainalysis noted a significant surge in funds flowing into YoMix throughout 2023, with inflows increasing fivefold. Alarmingly, approximately one-third of these funds originated from wallets associated with crypto hacks, indicating a significant reliance on the mixer by illicit actors seeking to obfuscate the origins of their funds. 

The surge in YoMix usage highlights the adaptability of sophisticated threat actors in the face of evolving security measures and the closure of previously popular money laundering avenues. This surge in YoMix usage, coupled with its adoption by sophisticated