U.S. Treasury Issues First-Ever Sanctions on a Virtual Currency Mixer, Targets DPRK Cyber Threats
2022-05-06 • USTreasury •
OFAC sanctioned Blender.io as the first virtual currency mixer designation, citing its use by DPRK’s Lazarus Group to launder proceeds from the March 2022 Axie Infinity/Ronin heist. Treasury said Lazarus stole roughly $620 million from the blockchain project and used Blender to process more than $20.5 million in illicit funds. The action also identified additional Lazarus virtual currency wallet addresses on the SDN List and framed mixers as key infrastructure for obscuring stolen cryptocurrency flows. The report matters for DPRK tracking because it ties sanctions enforcement, laundering services, and cryptocurrency theft to revenue generation for North Korea’s weapons programs.