{"id":16871,"date":"2023-02-13T20:48:45","date_gmt":"2023-02-13T20:48:45","guid":{"rendered":"https:\/\/nftandcrypto-news.com\/crypto\/crypto-mixer-blender-has-been-rebranded-to-sinbad-says-elliptic\/"},"modified":"2023-02-13T20:48:47","modified_gmt":"2023-02-13T20:48:47","slug":"crypto-mixer-blender-has-been-rebranded-to-sinbad-says-elliptic","status":"publish","type":"post","link":"https:\/\/nftandcrypto-news.com\/crypto\/crypto-mixer-blender-has-been-rebranded-to-sinbad-says-elliptic\/","title":{"rendered":"Crypto mixer Blender has been rebranded to Sinbad, says Elliptic"},"content":{"rendered":"
\n

Blender, the cryptocurrency mixer sanctioned by the United States Department of the Treasury\u2019s Office of Foreign Assets Control in May 2022, was \u201chighly likely\u201d relaunched as Sinbad, according to risk management firm Elliptic.<\/p>\n

In a Feb. 13 report, Elliptic said its analysis of Sinbad suggested that the crypto mixer was likely a rebrand of Blender as well as having \u201cthe same individual or group responsible for it.\u201d According to the firm, Sinbad was behind laundering roughly $100 million in Bitcoin (BTC) for North Korea\u2019s hacking group Lazarus. <\/p>\n

Elliptic said following U.S. authorities cracking down on crypto mixers \u2014 as OFAC did with Tornado Cash in August and Blender in May \u2014 Lazarus hackers used Sinbad to launder some of the funds from the $100-million attack on Horizon Bridge in January. Blockchain analysis of wallets tied to a suspected Blender operator also showed $22 million in crypto going to Sinbad and other funds sent to individuals who promoted the mixer. <\/p>\n

\u201cThe on-chain pattern of behavior is very similar for both mixers, including the specific characteristics of transactions, and the use of other services to obfuscate their transactions,\u201d said Elliptic. \u201cThe way in which the Sinbad mixer operates is identical to Blender in several ways, including ten-digit mixer codes, guarantee letters signed by the service address, and a maximum seven-day transaction delay.\u201d<\/p>\n

Source: Elliptic<\/em><\/figcaption><\/figure>\n

Elliptic speculated that the individuals behind Sinbad may have rebranded to \u201cgain trust from users\u201d following Blender shutting down, adding that OFAC could consider ordering sanctions on the crypto mixer. The U.S. Treasury Department is already facing lawsuits for its sanctions on Tornado Cash.<\/p>\n

Related: <\/em><\/strong>Into the storm: The murky world of cryptocurrency mixers<\/em><\/strong><\/p>\n

Lazarus has allegedly been responsible for several major attacks in the crypto space, including a $620-million hack of Axie Infinity’s Ronin Bridge in March 2022. South Korea\u2019s government has also imposed its own sanctions against North Korean entities tied to the theft of cryptocurrency.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Blender, the cryptocurrency mixer sanctioned by the United States Department of the Treasury\u2019s Office of Foreign Assets Control in May 2022, was \u201chighly likely\u201d relaunched as Sinbad, according to risk management firm Elliptic. In a Feb. 13 report, Elliptic said its analysis of Sinbad suggested that the crypto mixer was likely a rebrand of Blender […]<\/p>\n","protected":false},"author":1,"featured_media":16872,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","om_disable_all_campaigns":false,"footnotes":""},"categories":[42],"tags":[],"class_list":["post-16871","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto"],"yoast_head":"\nCrypto mixer Blender has been rebranded to Sinbad, says Elliptic | NFT & Crypto News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/nftandcrypto-news.com\/crypto\/crypto-mixer-blender-has-been-rebranded-to-sinbad-says-elliptic\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Crypto mixer Blender has been rebranded to Sinbad, says Elliptic | NFT & Crypto News\" \/>\n<meta property=\"og:description\" content=\"Blender, the cryptocurrency mixer sanctioned by the United States Department of the Treasury\u2019s Office of Foreign Assets Control in May 2022, was \u201chighly likely\u201d relaunched as Sinbad, according to risk management firm Elliptic. 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