The U.S. Treasury Department has taken action against the cryptocurrency mixing service Sinbad, accusing it of facilitating transactions connected to North Korea’s state-sponsored hacking group, Lazarus Group. Sinbad’s website was seized by multiple law enforcement agencies, including the FBI, Dutch Financial Intelligence and Investigation Service, and Finnish National Bureau of Investigation. The Treasury’s Office of Foreign Assets Control (OFAC) has designated specific Bitcoin addresses and email addresses associated with Sinbad, prohibiting U.S. individuals and those transacting within the global financial system from interacting with them. Sinbad is implicated in processing funds from various cyberattacks, including those on Horizon Bridge and Axie Infinity, as well as involvement in sanctions evasion, drug trafficking, and illicit sales on darknet marketplaces. The move follows a pattern of regulatory scrutiny on cryptocurrency mixers, with previous actions taken against entities like Tornado Cash for alleged connections to illicit activities.
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Source: Coindesk
