US Treasury Issues Sanctions on a Virtual Currency Mixer
The US Department of Treasury’s Office of Foreign Assets Control (OFAC) has sanctioned Blender.io, a virtual currency mixer that is used in the Democratic People’s Republic of Korea (DPRK) to facilitate North Korea’s cyber activities and to engage in money laundering of stolen virtual currency.
This sanction was initiated after Lazarus Group, a DPRK cyber hacking group, performed the largest virtual currency heist to date worth $620 million. Blender was involved in processing over $20 million of that amount.
David Rosenfield, Chair of the White Collar Defense and Investigations practice at Warren Law Group states, “As crypto becomes increasingly popular, cyber and crypto-related crimes will inevitably increase as well. If you have a large crypto portfolio you are at a higher risk of being hacked. You must be mindful of this issue in order to prevent potential hacking.”
If you have been a victim of a crypto hacking scheme, contact the attorneys at Warren Law Group at (866) 954-7687 or email firstname.lastname@example.org to schedule your consultation.