To address international law enforcement, the FBI and the Dutch Financial Intelligence and Investigation Service has confiscated the websites of a crypto mixer. This platform was allegedly utilized by North Korean hackers and various cybercriminals to launder stolen funds and conceal transactions. As per the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC), Sinbad served as a key tool in money laundering for the Lazarus Group, a hacking group linked to the North Korean government. The crypto mixer processed millions of virtual currency from Lazarus Group heists, including funds from the 2022 Horizon Bridge and Axie Infinity hacks, totaling $100 million and $625 million, respectively. This action by OFAC is expected to prevent virtual currency mixers like Sinbad from enabling illegal activities. The FBI and the Department of Justice have not provided additional comment as of now. Previous allegations suggested that Sinbad was used by the Lazarus Group to launder cryptocurrency stolen from Atomic Wallet. Cryptocurrency monitoring firm Elliptic confirmed that Sinbad was linked to the hacks of several crypto platforms. The FBI’s seizure notice has been displayed on Sinbad websites. The founder of Sinbad, known as Mehdi, previously claimed that the platform was not involved in any unlawful activities. Additionally, Sinbad’s dark web site is also no longer operational. Sinbad joins a list of crypto mixers that have been sanctioned by the U.S. government, including Tornado Cash and OFAC warned that Sinbad indiscriminately facilitates illicit transactions.

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