US sanctions crypto mixer allegedly used by North Korea to launder money



News US sanctions crypto mixer allegedly used by North Korea to launder money Designation of Sinbad comes after US blacklisted its predecessor, even as DPRK continued to use service under new name Shreyas Reddy November 30, 2023 SHARE COPY LINK FACEBOOK X LINKEDIN MASTODON Illustration of bitcoin and hard currency The U.S. announced new sanctions on Wednesday against a cryptocurrency mixer allegedly used by North Korean threat groups, despite previously blacklisting its likely predecessor over similar allegations. The move raises questions about the effectiveness of U.S. designations on such decentralized cryptocurrency tools after a simple rebrand enabled DPRK cybercriminals to continue using the mixer. The U.S. announced new sanctions on Wednesday against a cryptocurrency mixer allegedly used by North Korean threat groups, despite previously blacklisting its likely predecessor over similar allegations. The move raises questions about the effectiveness of U.S. designations on such decentralized cryptocurrency tools after a simple rebrand enabled DPRK cybercriminals to continue using the mixer. Become a member for less than $5.75 per week. Unlimited access to all of NK News: reporting, investigations, analysis The NK News Daily Update, an email newsletter to keep you in the loop Searchable archive of all content, photo galleries, special columns Contact NK News reporters with tips or requests for reporting Get unlimited access to all NK News content, including original reporting, investigations, and analyses by our team of DPRK experts. Subscribe now All major cards accepted. No commitments – you can cancel any time. © Korea Risk Group. All rights reserved. No part of this content may be reproduced, distributed, or used for commercial purposes without prior written permission from Korea Risk Group. Get the Daily Update Start your day with the North Korea stories that matter most – as selected by And how should we address you in correspondence? One more step! Please check your inbox, for an email we just sent you, and click on the confirmation message in it to get subscribed to our Daily News Update. Trending

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US sanctions crypto mixer allegedly used by North Korea to launder money

Designation of Sinbad comes after US blacklisted its predecessor, even as DPRK continued to use service under new name

Shreyas Reddy November 30, 2023

US sanctions crypto mixer allegedly used by North Korea to launder money

Illustration of bitcoin and hard currency

The U.S. announced new sanctions on Wednesday against a cryptocurrency mixer allegedly used by North Korean threat groups, despite previously blacklisting its likely predecessor over similar allegations.

The move raises questions about the effectiveness of U.S. designations on such decentralized cryptocurrency tools after a simple rebrand enabled DPRK cybercriminals to continue using the mixer.

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US sanctions crypto mixer allegedly used by North Korea to launder money

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Shreyas Reddy

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