Bitcoin News and Finance
Ukraine Security Service Busts Criminal Group Selling Bitcoin-Stealing Malware  Skip to main content

Ukraine Security Service Busts Criminal Group Selling Bitcoin-Stealing Malware 

Ukraine Security Service Busts Criminal Group Selling Bitcoin Stealing Malware 

Law enforcement authorities in Ukraine have exposed a crime ring specializing in cryptocurrency theft and laundering of illicit funds for hackers. The gang, which provided services to clients on the darknet, has been dismantled as a result of a joint operation carried out with the United States.

Cybercriminals From Ukraine Launder Millions, Offer Flash Drives With Crypto Malware

The Cybersecurity Department at the Security Service of Ukraine (SBU) has recently identified a group of individuals who allegedly laundered tens of millions of dollars from darknet sources, the agency announced. The Ukrainians were legalizing illicit funds on behalf of international hackers, the SBU revealed in a press release published Monday.

To launder the money, the suspects organized a large-scale scheme involving fake online identities and fictitious persons. Investigators were able to establish that the funds had been transferred through various financial services. Customers were mostly hackers engaged in cyber theft and attacks on banking systems in different parts of the world.

The members of the criminal group were also selling flash drives containing viruses designed to compromise digital wallets and steal cryptocurrency. The operation, carried out with support from U.S. agencies, and with the participation of Ukraine’s national police and the Prosecutor General’s Office, led to searches at addresses in the Southern Ukrainian city of Mykolaiv. Authorities seized computer equipment, malicious software, paperwork, and cash.

The SBU explained that the collected information and materials are currently being analyzed to prosecute all responsible persons, including foreign clients of the Ukrainian criminals. The law enforcement authority did not provide details regarding the number of those involved and if they were under arrest.

Ukraine, which has in recent years become a leader in crypto adoption while moving to legalize cryptocurrencies, has seen an increase in crypto-related crime. The Security Service of Ukraine has been going after illegal miners this year and shut down crypto farms in different regions of the country. In August, the SBU blocked a number of online crypto exchangers allegedly sending money to Russia.

Earlier this month, South Korean police announced participation in a joint operation with Interpol and the FBI to disrupt another Ukraine-based criminal network accused of extorting bitcoin through ransomware attacks on Korean universities and businesses. According to an announcement by the National Office of Investigation, quoted by the Korean public broadcaster KBS, law enforcement raided 21 locations in Kiev this past June, arresting six individuals.

The attacks took place in 2019, when four academic institutions and companies in South Korea were blackmailed to pay up to 4.5 billion won (over $3.8 million) worth of bitcoin to have their computer systems decrypted. While Ukraine’s current legislation makes it difficult to extradite the perpetrators, authorities in Seoul have asked Interpol to issue a red notice for two of the suspects who could end up in Korean custody if they leave their country, the report noted.

Do you think Ukraine will be able to deal with crypto-related crime? Share your thoughts on the subject in the comments section below.

Labels:

Comments

Post a Comment

Popular posts from this blog

Custodial Lightning Network Service Attack Discovered by LN ‘Newbie’ — Hacker Strikes 6 LN Custodians

On September 18, a Redditor posted to the r/bitcoin forum and explained how he discovered a way to “attack [the] lightning Network’s custodial services.” The Reddit account dubbed “Reckless Satoshi” wanted to figure out if a “discrepancy between real routing fees and service’s transaction fee can be exploited for a profit.” The researcher disclosed that he wanted to see how large the damage could be and said “it is bad.” 6 Lightning Network Custodial Services Attacked, Researcher Discloses Findings to Offenders Prior to Public Disclosure A Redditor called Reckless Satoshi published a disclosure post on r/bitcoin this past Saturday and disclosed how he had found a vulnerability with routing fees and some of the Lightning Network’s custodial services. The research attack was done in good faith and after it was complete he disclosed the bugs to the offending services before publishing his findings. Reckless Satoshi used the Lightning Network (LN) attack on six different services incl...
Post a Comment
Read more

Axie Infinity Down 40% Since Last Week’s Price High, Protocol Revenue Outshines Competitors

Last week, the game token leveraged within the Axie Infinity gaming universe skyrocketed to all-time highs, while other crypto markets remained extremely lackluster. During the last seven days, Axie Infinity’s platform token has dropped significantly in value shedding more than 12%. Meanwhile, the game platform’s smooth love potion token has slid over 8% over the last 24 hours. Axie Infinity Down More Than 40% Since All-Time High Not too long ago, the axie infinity (AXS) token was a topical conversation because it reached an all-time high on July 15. At the time, AXS managed to capture $28.93 per unit and since then it has shed 12.8% during the last seven days. The axie infinity (AXS) token is used within the blockchain-based game that involves battles between token-based creatures called “Axies.” AXS is used for the game’s governance system as well as other actions within the game. At the time of writing axie infinity (AXS) is exchanging hands for $16.70 per coin. AXS/USD on Ju...
Post a Comment
Read more

Play-to-Earn Game From Polker (PKR) Exchange Listing – Endorsed by Akon

The Play-to-Earn NFT based Polker.Game ‘s native token $PKR has been officially listed on the popular centralized exchange BitMart. Polker.game has been in the spotlight recently as Akon, the American R&B superstar and record producer gave his official endorsement of polker stating that the “game is revolutionary” and that Polker is “hands down.. the best play to earn, NFT game in the space.”. With the BitMart listing and celebrity endorsement from Akon, Polker is perfectly positioned to become a major player in the Play-to-Earn league. Watch Akon’s Video Here What is Play-to-Earn? Although not a new concept, play-to-earn has become a trending term due to the popularity of the NFT game AXIE infinity. In the past, previous play-to-earn games have also achieved success – however, thanks to the huge amount of development in the blockchain space in recent years the gaming experience is now massively improved. Play-to-Earn games are essentially free to play and open to anyone and...
Post a Comment
Read more

China to Crack Down on Copyright Infringement Through NFTs

Authorities in China are going after creators of digital collectibles based on other people’s works of art, the use of which was not authorized. The government offensive is part of a campaign to combat online copyright infringement and piracy with the participation of several departments. Regulators in China Move to Strengthen Copyright Supervision of Online Platforms The National Copyright Administration of China (NCAC) has recently launched a campaign against copyright infringement and piracy on the internet, together with the Ministry of Industry and Information Technology, the Ministry of Public Security, and the State Internet Information Office of the People’s Republic. A major objective of the initiative is to improve copyright supervision of online businesses by investigating cases involving the sale and distribution of infringing products on short video, live broadcast and e-commerce platforms, and promptly dealing with infringing content, the agency announced in a press r...
Post a Comment
Read more
Blogarama - Blog Directory