US Treasury Imposes Sanctions on Sinbad: Third Crypto Mixer Linked to Lazarus Group

The US Treasury’s Office of Foreign Assets Control (OFAC) sanctions cryptocurrency mixer Sinbad, alleging its involvement in money laundering for North Korean hackers, the Lazarus Group. The move follows Sinbad’s role in processing millions from high-profile crypto heists. Learn about the sanctions, seized assets, and the broader crackdown on crypto mixers.

The US Department of the Treasury’s OFAC has placed sanctions on cryptocurrency mixer Sinbad, accusing it of being a preferred choice for the Lazarus Group’s money laundering operations. Sinbad is alleged to have laundered substantial amounts from crypto heists, including those targeting Atomic Wallet, Axie Infinity, and Harmony’s Horizon Bridge. OFAC’s actions include adding Sinbad to the specially designated nationals (SDN) list and seizing its website in a joint effort with law enforcement agencies.

This marks the third crypto mixer sanctioned by OFAC, following actions against Blender and Tornado Cash. Sinbad, reportedly a rebranded Blender, now faces severe consequences for its role in enabling criminal actors to launder stolen assets. Wally Adeyemo, Deputy Secretary of the Treasury, emphasized the commitment to preventing virtual currency mixers from facilitating illicit activities, signaling a robust stance against such practices.

Disclaimer: The information provided in this article is for educational and informational purposes only. It should not be considered financial advice from Cryptozi or any other entity. We want to emphasize that if readers use the content or services mentioned in this article, Cryptozi is not responsible for any resulting losses. Therefore, it is strongly advised to exercise caution and consult with financial professionals before making any financial decisions that could impact your financial situation.

Lastest

Tether Controversy: WSJ Parent Company Faces Legal Battle Over Defamation

Wall Street Journal's investigative article on Tether and...

MicroStrategy Surges Over 20% Amidst Bitcoin Rally

MicroStrategy (MSTR) witnessed a remarkable 20% surge in...

Bitcoin’s Surge Sparks Speculation of Qatari Billionaire’s Post-Atlantis Purchase

Bitcoin breaches $65,000, triggering rumors of a Qatari...

Bitcoin’s Trajectory: A Mathematical Glimpse into a $1 Million Future

The Bitcoin Power Law model predicts Bitcoin's price...

Subscribe

spot_img

Related

Tether Controversy: WSJ Parent Company Faces Legal Battle Over Defamation

Wall Street Journal's investigative article on Tether and...

MicroStrategy Surges Over 20% Amidst Bitcoin Rally

MicroStrategy (MSTR) witnessed a remarkable 20% surge in...

Bitcoin’s Surge Sparks Speculation of Qatari Billionaire’s Post-Atlantis Purchase

Bitcoin breaches $65,000, triggering rumors of a Qatari...

Bitcoin’s Trajectory: A Mathematical Glimpse into a $1 Million Future

The Bitcoin Power Law model predicts Bitcoin's price...

House Committee Advances Bill to Repeal SEC Bulletin Impacting Crypto Custody Services

The House Financial Services Committee in the U.S....
spot_imgspot_img

Tether Controversy: WSJ Parent Company Faces Legal Battle Over Defamation

Wall Street Journal's investigative article on Tether and Bitfinex leads to a controversial legal battle. Allegations of shady financial practices and connections to...

MicroStrategy Surges Over 20% Amidst Bitcoin Rally

MicroStrategy (MSTR) witnessed a remarkable 20% surge in its stock price on March 4, with a retained gain of over 15% by midday. ...

Bitcoin’s Surge Sparks Speculation of Qatari Billionaire’s Post-Atlantis Purchase

Bitcoin breaches $65,000, triggering rumors of a Qatari billionaire's interest. A Qatari private jet at Madeira airport post-Bitcoin Atlantis fuels speculation. Social media...