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The resurrection of Blender as Sinbad

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According to reports, Ellipic, a risk management company, said that the cryptocurrency mixer Blender may have been renamed as Sinbad and re-operated, and a wal…

The resurrection of Blender as Sinbad

According to reports, Ellipic, a risk management company, said that the cryptocurrency mixer Blender may have been renamed as Sinbad and re-operated, and a wallet suspected of Blender transferred $22 million to Sinbad. In addition, Sinbad operates in the same way as Blender, including a 10-digit mixer code, a warranty signed by the service address, and a transaction delay of up to 7 days.

The encryption currency mixer Blender has been renamed as Sinbad and re-operated

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Ellipic, a risk management company, has reported that an infamous cryptocurrency mixer, Blender may have re-emerged in a new guise called Sinbad. It is said that a wallet suspected of belonging to the Blender mixer service transferred $22 million to Sinbad. This revelation poses another potential challenge for the regulation of cryptocurrencies, especially when it comes to money laundering activities.

Cryptocurrency mixer services such as Blender and Sinbad are popular among cybercriminals as they allow users to shuffle their digital coins for enhanced anonymity. Blender, in particular, was notorious for its role in enabling the distribution of illegal proceeds from disreputable sources like ransomware, scams, and drug sales.

Blender’s activities came to a halt in 2019 after Europol and Dutch authorities seized its servers, resulting in the arrest of six people. However, the possibility of its reemergence poses a significant threat to the global fight against cybercrime.

Reports suggest that Sinbad operates in the same manner as Blender, with a 10-digit mixer code, a warranty signed by a service address, and a transaction delay of up to 7 days. The 10-digit mixer code, for instance, is used to receive deposits from cryptocurrency users who require anonymity from their service. This code makes it unnerving for law enforcement to trace the movement of digital currencies in the blender.

While the use of synonyms or new product names may help cryptocurrency mixers like Sinbad evade detection, it may not be enough in the long run. It is essential to adopt a more robust method of regulation that can detect and block all forms of illegal activities.

In conclusion, the reports of the resurrection of Bitcoin mixer, Blender, as Sinbad point to the need for increased regulations and mechanisms for fighting cryptocurrency-related crimes. It is no longer enough for authorities to fight these activities retroactively; they must now proactively devise means to monitor and prevent them. An efficient way to achieve this would be to use technology such as blockchain and artificial intelligence to detect and track suspicious cryptocurrency transactions.

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