The Treasury Division’s Workplace of International Property Management sanctioned digital forex mixer Twister Money, it introduced Monday.
The mixer, which mixes numerous varieties of crypto belongings to masks their origin, has gained notoriety as the cash laundering software of alternative for the Lazarus Group, a bunch of state-sponsored North Korean hackers chargeable for a collection of huge cryptocurrency heists.
The mixer has been used to launder greater than $7 billion value of digital forex since 2019, together with greater than $455 million stolen by the Lazarus Group, in keeping with a Treasury press launch. That features funds from a $600 million theft from Ronin Bridge, a know-how utilized by the Axie Infinity online game to attach with the Ethereum blockchain.
The U.S. Treasury Division expanded its sanctions in opposition to the Lazarus Group in April after tying the group to the theft.
“Regardless of public assurances in any other case, Twister Money has repeatedly did not impose efficient controls designed to cease it from laundering funds for malicious cyber actors frequently and with out primary measures to deal with its dangers,” mentioned Beneath Secretary of the Treasury for Terrorism and Monetary Intelligence Brian E. Nelson. “Treasury will proceed to aggressively pursue actions in opposition to mixers that launder digital forex for criminals and those that help them.”
CyberScoop has reached out to Twister Money for remark, however has not but acquired a response.
Mixer applied sciences have grow to be widespread instruments for cybercriminals seeking to launder illicit funds. Most not too long ago, unnamed hackers used Twister Money to launder practically $8 million stolen from the hack of a blockchain bridge Nomad.
Twister Money is the second mixer this yr sanctioned by Treasury, which in Might sanctioned Blender.io for additionally facilitating laundering by North Korean hackers.