🚨 U.S. Treasury sanctions cryptocurrency mixing protocol Sinbad for alleged money laundering tied to Lazarus Group. #Sinbad #LazarusGroup #CryptoSanctions

In 2023, the #LazarusGroup , a North Korean hacking organization, utilized the cryptocurrency mixer #YoMix for laundering stolen crypto, according to a report by #Chainalysis . The report also highlighted a decline in crypto money-laundering activity to $22.2 billion from $31.5 billion in 2022, partly due to the sanctions or closure of mixing services #TornadoCash and #Sinbad . Despite an overall decrease in crypto transaction volume, YoMix experienced significant growth, with one-third of its inflows traced back to wallets associated with crypto hacks. The Lazarus Group adapted by employing cross-chain bridges for obfuscation. In another development, the bankrupt crypto platform Celsius has distributed $2 billion worth of crypto to creditors, with payments made via PayPal for US creditors and Coinbase for overseas holders. Meanwhile, in Indonesia, Prabowo Subianto and his pro-crypto running mate Gibran Rakabuming Raka are likely to become the next president and vice president, potentially boosting the country's crypto-friendly policies, as Indonesia already boasts 18 million registered crypto investors. In the cryptocurrency market, Bitcoin is up 0.40% at $51,874.10, and Ethereum is up 0.86% at $2,810.75.