U.S. Imposes Sanctions on Cryptocurrency Mixer Sinbad over Alleged N.Korea Links – The Chosun Ilbo (English Edition): Daily News from Korea – World

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The United States on Wednesday imposed sanctions on a virtual currency mixer the Treasury Department said has processed millions of dollars worth of cryptocurrency from major heists carried out by North Korea-linked hackers. The U.S. Treasury Department in a statement said virtual currency mixer Sinbad, hit with sanctions on Wednesday, processed millions of dollars worth of virtual currency from heists carried out by the North Korea-linked Lazarus Group, including the Axie Infinity and Horizon Bride heists of hundreds of millions of dollars. Lazarus, which has been sanctioned by the U.S., has been accused of carrying out some of the largest virtual currency heists to date. In March 2022, for example, they allegedly stole about $620 million in virtual currency from a blockchain project linked to the online game Axie Infinity. “Mixing services that enable criminal actors, such as the Lazarus Group, to launder stolen assets will face serious consequences,” Deputy Treasury Secretary Wally Adeyemo said in the statement on Wednesday. “The Treasury Department and its U.S. government partners stand ready to deploy all tools at their disposal to prevent virtual currency mixers, like Sinbad, from facilitating illicit activities.”

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