Washington CNN —The US Treasury Department on Wednesday sanctioned a cryptocurrency service accused of helping launder millions of dollars for the North Korean regime.
The FBI and European law enforcement agencies have also seized the website of the crypto service, known as Sinbad, according to a notice that appeared on the website Wednesday.
Analysts say North Korea has leaned heavily on mixers to move money amid greater scrutiny from law enforcement agencies from the US, South Korea and elsewhere.
The North Korean regime has also used thousands of IT workers working overseas, sometimes posing as other foreign nationals, to quietly raise revenue, according to US officials and North Korea experts.
“The laundering tactics of North Korean cyber criminals continued to evolve,” Nick Carlsen, who was an FBI intelligence analyst focused on North Korea until 2021, told CNN.
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