Security News > 2023 > February > Lazarus hackers use new mixer to hide $100 million in stolen crypto

The Lazarus Group, as the threat actor is typically referred to, has laundered about $100 million in stolen Bitcoin since October 2022 through a single crypto-mixing service called Sinbad. Lazarus behind major crypto heists.

Last year, the U.S. Treasury's Office of Foreign Assets Control announced sanctions against the cryptocurrency mixing services Blender and Tornado Cash, which Lazarus had used to launder close to $500 million in illicitly obtained cryptocurrency.

The measure was taken after more than $600 million in crypto assets were stolen from Axie Infinity's cross-chain bridge in a hack later attributed to the North Korean Lazarus group.

They used another Bitcoin mixer called Sinbad. Robinson says that although the Sinbad service is "Relatively small," it has been used to launder the funds stolen by the Lazarus group.

The same wallet was used to pay for promoting the new crypto mixer and to fund almost all initial transactions coming to Sinbad, about $22 million.

"The way in which the Sinbad mixer operates is identical to Blender in several ways, including ten-digit mixer codes, guarantee letters signed by the service address, and a maximum seven-day transaction delay" - Elliptic.

News URL

https://www.bleepingcomputer.com/news/security/lazarus-hackers-use-new-mixer-to-hide-100-million-in-stolen-crypto/