The United States today sanctioned virtual currency mixer Sinbad.io (Sinbad) for its role in processing millions of dollars worth of virtual currency stolen by the US-designated Lazarus Group, a group of malicious cyber actors. sponsored by the state of the Democratic People's Republic. of Korea (DPRK). Cybercriminals also used Sinbad to obfuscate transactions linked to malign activities such as sanctions evasion, drug trafficking, trading in child sexual abuse materials, and illicit sales on darknet markets.
The UN Security Council Panel of Experts on sanctions on the DPRK has highlighted Pyongyang's aggressive cyber theft campaign, which plays an essential role in generating funds for the country's illegal weapons of mass destruction and ballistic missile programs. the DPRK. Today's designation builds on previous actions we have taken to expose the DPRK's abuse of the virtual currency ecosystem. The United States will not hesitate to use all tools at our disposal to disrupt the DPRK's illicit activities that threaten international peace and security.
Sinbad is being designated pursuant to Executive Order (EO) 13694, as amended by EO 13757, for having assisted, sponsored, or provided material financial, material, or technological support or goods or services to, or in support of, Atomic Wallet. hack; and EO 13722 for materially assisting the Lazarus Group, an agency, instrumentality or controlled entity of the Government of North Korea. For more information on today's designation, see the Treasury report. Press release.
