The United States Treasury Department’s Office of Foreign Assets Control (OFAC) has imposed sanctions on cryptocurrency mixer Sinbad for allegedly laundering funds for the North Korea-based hacking group Lazarus. According to OFAC, Sinbad processed millions of dollars’ worth of virtual currency from Lazarus Group heists, including the hacks of Horizon Bridge, Axie Infinity’s Ronin bridge, and Atomic Wallet. These hacks resulted in a combined loss of approximately $850 million. Wally Adeyemo, Deputy Secretary of the Treasury, stated that mixing services like Sinbad that enable criminal actors to launder stolen assets will face serious consequences. The Treasury Department and its U.S. government partners are prepared to use all available tools to prevent virtual currency mixers from facilitating illicit activities. This is an ongoing story, and more information will be provided as it becomes available.