US Treasury sanctions crypto mixer Sinbad, alleging North Korea ties By Cointelegraph
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The United States Treasury Department’s Office of Foreign Assets Control (OFAC) imposed sanctions on cryptocurrency mixer Sinbad, alleging the platform was responsible for laundering funds for the North Korea-based hacking group Lazarus.
In a Nov. 29 announcement, OFAC said Sinbad had “processed millions of dollars’ worth of virtual currency from Lazarus Group heists,” including the June 2022 hack of Horizon Bridge, the March 2022 hack of Axie Infinity’s Ronin Bridge and the June 2023 hack of Atomic Wallet. The hacks resulted in a combined loss of roughly $820 million at the time.
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The United States Treasury Department’s Office of Foreign Assets Control (OFAC) imposed sanctions on cryptocurrency mixer Sinbad, alleging the platform was responsible for laundering funds for the North Korea-based hacking group Lazarus.
In a Nov. 29 announcement, OFAC said Sinbad had “processed millions of dollars’ worth of virtual currency from Lazarus Group heists,” including the June 2022 hack of Horizon Bridge, the March 2022 hack of Axie Infinity’s Ronin Bridge and the June 2023 hack of Atomic Wallet. The hacks resulted in a combined loss of roughly $820 million at the time.
Continue Reading on Cointelegraph
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