Lazarus-Linked Blender.io Added to US Treasury's Sanction List

Trending 3 months ago 23

Bitcoin and cryptocurrency mixing service, Blender.io has been added to the sanctions list by the United States Treasury Department. 

SAN2.jpg

The startup which helps facilitate backstage cryptocurrency transactions was added to the database arsenic investigations showed that it was utilized by the North Korea-based hacking group, Lazarus who stole $620 cardinal from the Ronin Network.

As detailed by the US Treasury Department, the hackers person utilized Blender.io to conceal and launder arsenic overmuch arsenic $20.5 cardinal of the illicit proceeds. The Treasury Department believes that the unit from the United Nations arsenic good arsenic the United States has turned North Korea to commencement exploring different avenues to money its atomic program, and the activities of the Lazarus Group are 1 manifestation.

“Today, for the archetypal clip ever, Treasury is sanctioning a virtual currency mixer,” said Under Secretary of the Treasury for Terrorism and Financial Intelligence Brian E. Nelson. “Virtual currency mixers that assistance illicit transactions airs a menace to U.S. nationalist information interests. We are taking enactment against illicit fiscal enactment by the DPRK and volition not let state-sponsored thievery and its money-laundering enablers to spell unanswered.”

The exploit of Axie Infinity’s Ronin Bridge was considered the biggest hack successful the decentralized concern satellite to day and concerted efforts person been deployed by each applicable stakeholders to assistance the blockchain protocol retrieve the funds. While Binance precocious helped successful retrieving $5.8 million which was laundered done the platform, the activities of services similar Blender.io travel disconnected similar a state walk for the cybercriminals.

Besides being the go-to level for the Lazarus Group, the Treasury Department besides believes Blender is simply a viable instrumentality being adopted by different cybercrime rings including Trickbot, Conti, Ryuk, Sodinokibi, and Gandcrab, each connected to Russia.

With the sanctions successful place, each of the platform’s properties indispensable beryllium reported to the Office of Foreign Assets Control (OFAC) and among galore different restrictions, Americans are banned from doing concern with the startup.

Image source: Shutterstock

More