Since Blender and Sinbad are custodial mixers, all cryptocurrency that goes into the service is under the operator’s control therefore, owners are confident enough to give up control.īased on Elliptic’s analysis, it is highly likely that Sinbad is operated by the same individual or group that was behind Blender. According to the researchers, a “service” address on the Sinbad site received Bitcoin from a wallet believed to belong to Blender’s operator. This time though, they used another Bitcoin mixer called Sinbad.Įlliptic`s co-founder and chief scientist, Tom Robinson, has declared for BleepingComputer that, although the Sinbad service is “relatively small,” it has been used to launder the funds stolen by the Lazarus group. Typically, the actor combined Tornado Cash crypto mixing with a custodial-based service, like Blender. Soon after the Harmony Horizon crypto heist in June 2022 that led to about $100 million in losses, strong links to Lazarus had emerged, something that the FBI confirmed earlier this year, by following the funds through the Tornado Cash mixing service. In a hack later attributed to Lazarus, more than $600 million in crypto assets were stolen from Axie Infinity’s cross-chain bridge.įor a fee, cryptocurrency mixers/tumblers allow hackers to hide the origin and owners of funds by blending the assets of many users. OFAC sanctions did not stop Tornado Cash, but they stopped Blender, whose operator disappeared after taking almost $22 million in Bitcoin from the mixer.Īccording to blockchain analysis company Elliptic, there is a possibility that Blender’s operator started a new service called Sinbad, which is being used by Lazarus to launder assets. Treasury’s Office of Foreign Assets Control (OFAC) last year. The North Korean threat actors also attacked health sector organizations in the United States and South Korea using several locker strains of ransomware.īlender and Tornado Cash, which Lazarus used to launder close to $500 million in illicit cryptocurrency, were sanctioned by the U.S. ![]() While referred to as one group, Lazarus describes multiple North Korean operators tasked by the government with gathering intelligence and stealing money. sanctions. Through a single crypto-mixing service called Sinbad, the advanced persistent threat known as Lazarus Group has laundered about $100 million in stolen Bitcoin since October 2022. Blockchain analysts have discovered that North Korean hackers are laundering cryptocurrency proceeds from their heists despite U.S.
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