It could be. If the bad guys were in charge of Sinbad, that explains why they were quickly trusted enough to send them millions of dollars worth of Bitcoin. Pretty much anything can be used for good or evil, but starting a business for evil is very different than a legitimate business being abused.
Didn't google started with motto Don't be evil, and they later removed it for unknown reasons, so I guess they are now allowed to be evil

We could also argue that banks and whole military industrial complex started with evil intentions, yet I don't see many people talking about that, because government is behind them.
I have to say that it's very convenient when you have invisible hackers and terrorists to blame them for everything.