The world’s most prolific crypto thieves have used Sinbad.io to launder tens of millions. Its creator, “Mehdi,” answers WIRED’s questions.
. Chainalysis' vice president of investigations, Erin Plante, says North Korea's crypto-stealing cybercriminals began funneling their profits bit by bit through Sinbad almost immediately after the mixer's October launch, in the hopes of obscuring their loot's origin before cashing it out at an exchange. Sinbad "hit the radar for North Korea quickly," Plante says, "and it's become their favorite.
That's put the new service in an awkward position: Just weeks after its debut, Sinbad became a tool that operates publicly—with a traditional website running in the open in addition to a dark-web site running on the anonymity network Tor—and yet some of its earliest, most high-volume users also happen to be the crypto world's most notorious cybercriminals. North Korean hackers, according to Chainalysis's findings, stole no less than $1.
"I am against total surveillance, control over internet users, against autocracies and dictatorships," Mehdi adds. "Every living person has the right to privacy." Mehdi, who declined to reveal his real name or where he or Sinbad are based, says that he created Sinbad as a response to the growing centralization of cryptocurrency and the. He named his mixer service after the fictional Middle Eastern sailor who, as Mehdi puts it, "traded goods all around the world.
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