U.S. sanctions North Korean cryptocurrency mixing firm
WASHINGTON (AP) — The U.S. has sanctioned North Korean digital currency mixing firm Blender.io, which allegedly uses its service to launder stolen virtual currency and support malicious cyber activities.
Mixing services combine various assets, including potentially illegally obtained funds with legitimately obtained funds, and spit them out to a destination address.
The purpose for illegal actors is to obscure the origin of the funds.
Blender is accused of assisting Lazarus Group, a sanctioned North Korean cyber hacking group, to carry out a $620 million digital currency heist in March.
Treasury says Blender helped process over $20.5 million in digital currency.