This is a North Korea-controlled cybercrime group believed to be responsible for stealing billions of dollars worth of cryptoassets. Elliptic analysis indicates that Blender – sanctioned for helping North Korea’s Lazarus Group to launder tens of millions of dollars in Bitcoin – is highly likely to have re-launched as Sinbad. When crypto game Axie Inifinity’s cross-chain bridge was hacked in March 2022, $540 million in cryptoassets were stolen. Tens of millions of dollars from Horizon and other North Korea-linked hacks have been passed through Sinbad to date and continue to do so, demonstrating confidence and trust in the new mixer.