Treasury Sanctions Crypto 'Mixer' Used By North Korea

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By Ben Kochman (May 6, 2022, 5:43 PM EDT) — The U.S. Department of the Treasury on Friday added a virtual currency “mixing” service to its sanctions list after a North Korean state-sponsored hacking group allegedly used the platform to launder more than $20 million stolen in an April cyberattack on a popular online video game.

The designation of as a sanctioned entity marks the first time U.S. authorities have sanctioned a mixing platform, which is designed to help obscure the parties involved in cryptocurrency transactions. Such companies operate by pooling money from different sources into a central fund and mixing the transactions together before distributing the currency to their…

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