Mixer Blender, an anonymous service for encrypted transactions, may be re-launched under the name Sinbad

02/14/2023 19:31 • Metaverse Matters • 100 views

It is reported that the blockchain analysis company Elliptic said in a blog article on Monday that Mixer Blender, an anonymous service for encrypted transactions that was closed last year, might be re-launched under the new name Sinbad. In May 2022, after discovering that the North Korean hacker organization Lazarus used this service to launder the proceeds of cybercrime, Blender’s Bitcoin and Ethereum blockchain wallets were listed in the US sanctions list. The US Treasury Department said that Lazarus was behind the notorious Ronin hacking incident. At that time, $625 million of cryptocurrency was stolen from the blockchain bridging protocol used by the popular NFT game AxieInfinity.

Blockchain analysis company Elliptic: The anonymous service of encrypted transactions will be re-launched as Sinbad

Analysis based on this information:

Elliptic, a blockchain analysis company, reported on Monday that Mixer Blender, an anonymous service for encrypted transactions that was closed last year, may be re-launched under the new name Sinbad. In May 2022, the North Korean hacker organization Lazarus was found to have used Mixer Blender to launder the proceeds of cybercrime, leading to the listing of its Bitcoin and Ethereum blockchain wallets in the US sanctions list. The US Treasury Department attributed Lazarus to the notorious Ronin hacking incident, which saw the theft of $625 million of cryptocurrency from the blockchain bridging protocol used by the popular NFT game AxieInfinity.

The news of the possible re-launch of Mixer Blender under a new name is unsettling, given its controversial history. Mixer Blender was a popular service among cybercriminals looking to obscure their transactions and evade detection. The fact that it was being used by a North Korean hacker organization only adds to its already tainted reputation. The US sanctions list only adds to the perception that Mixer Blender may be a tool for facilitating illegal activities.

While the change of name to Sinbad may be an attempt to distance itself from its past, it raises concerns that the same service may be operating under the radar again, making it easier for bad actors to carry out illegal activities. It is therefore imperative that authorities, including the US Treasury Department, continue to monitor such services and take action against any that are found to be operating outside the law.

Overall, the report highlights the need for greater vigilance in the blockchain space, which can be exploited by cybercriminals for nefarious purposes. While blockchain technology has many legitimate uses, it is also a key tool in the hands of cybercriminals seeking to launder their proceeds from illegal activities.

In conclusion, the report underlines the need for all stakeholders in the blockchain ecosystem to work together to ensure that such services are not used for illegal activities, and that the legitimate uses of blockchain technology are not undermined.

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