Operators of Blender.io may have launched Sinbad After Sanctions Blender.io, a digital wallet, was recently sanctioned for processing North Korean hackers’ money. Now, blockchain intel firm believes that the company may have launched Sinbad after the sanctions. operators-of-blender-io-may-have-launched-sinbad-after-sanctions

#Operators of Blender.io May Have Launched Sinbad After Sanctions Recently, Blender.io, a popular digital wallet service, was sanctioned by the United States government for processing North Korean hackers’ money. Now, blockchain intelligence firm CipherTrace believes that the company may have launched a new platform, Sinbad, in response to the sanctions. ##Blender.io Sanctioned by US Government In August 2020, the U.S. Department of Treasury's Office of Foreign Assets Control (OFAC) levied sanctions against Blender.io and its operators. According to the press release, the operators of Blender.io had been facilitating transactions for North Korean hackers who had stolen millions of dollars from cryptocurrency exchanges. The OFAC noted that Blender.io was acting as a digital wallet service and had processed over 7,000 transactions related to North Korean hackers since 2017. As a result of the sanctions, any assets owned or operated by the company in the US or held by US persons are liable for seizure or blocking. ##CipherTrace Alleges New Platform Launched After Sanctions According to CipherTrace, the operators of Blender.io may have launched a new digital wallet service, Sinbad, in response to the sanctions. The blockchain intelligence firm claims that Sinbad has the same user interface, programming, and methods of operation as Blender.io. CipherTrace believes that Sinbad may also be processing North Korean hackers’ money, noting that some of the same actors are involved in both Blender.io and Sinbad. The firm is calling on law enforcement agencies to investigate the operators of Sinbad. ##Conclusion The operators of Blender.io have been sanctioned by the US government for processing North Korean hackers’ money. Now, blockchain intel firm CipherTrace believes that the company may have launched Sinbad in response to the sanctions. The firm is urging law enforcement agencies to investigate Sinbad and its operators.