íàçâàíèå

Bank Hackers Set up “Enormous Network” to Mine Bitcoin for Laundering Money


Europol has revealed that an international group of cyber criminals, which has stolen over a billion dollars from multiple banks by hacking their ATMs, has been using cryptocurrency as a means to conduct money laundering. The information was made public after cooperation by investigators from all over the world led to the arrest of the mastermind behind the sophisticated crime syndicate.


ATM Malware Gang

The European Union Agency for Law Enforcement Cooperation (Europol) has announced on Monday that the leader of the cybercrime gang behind the Carbanak and Cobalt malware attacks has been arrested in Spain. The action was supported by the American FBI, the Romanian, Moldovan, Belarussian and Taiwanese authorities as well as private cyber security companies.

Under his leadership, the alleged criminals would send bank employees spear phishing emails with a malicious software attachment. Once downloaded, the malware allowed the criminals to remotely control the victims’ infected machines, giving them access to the internal banking network and infecting servers controlling ATMs. They hit banks in more than 40 countries, resulting in total losses of over ˆ1 billion.

The illicit gains were also laundered via cryptocurrencies, by means of prepaid cards linked to the cryptocurrency wallets which were used to buy goods such as luxury cars and houses, according to the European agency. Steven Wilson, Head of Europol’s Cybercrime Centre, commented: “The arrest of the key figure in this crime group illustrates that cybercriminals can no longer hide behind perceived international anonymity.”

Bank Hackers Set up “Enormous Network” to Mine Bitcoin for Laundering Money


Mastermind ‘Denis K’

The Spanish Interior Ministry revealed more details about the case, saying that the arrested mastermind is called ‘Denis K.’ and that three more members of the gang, originating from Russia and Ukraine, were arrested alongside the leader. The police seized their bank accounts, homes worth a million euros, jewels worth half a million euros and two luxury cars in a raid.

The stolen loot was converted into bitcoin at cryptocurrency exchanges in Russia and Ukraine, and later transferred to their wallets where they accumulated about 15,000 BTC, the Interior Ministry revealed. The gang leader used financial platforms in Gibraltar and the UK to load prepaid cards with bitcoin and spend them in Spain. He also allegedly set up an “enormous network” to mine bitcoin as a means of laundering money.

27.03.2018 / 09:05 90
Europol Arrests Gang After Laundering ˆ1 Billion Worth of Bitcoin Europol Arrests Gang After Laundering
The Spanish police authority announced the arrest of ‘Denis K.’, the suspected leader of a cyber-crime gang who allegedly stole up to 1 billion Euros
Symantec’s “Internet Security Threat Report” Highlights Crypto’s Increased Use in Cyber Crime Symantec’s “Internet Security Threat
Internet security firm Symantec has published their 23rd Internet Security Threat Report. The document identifies an increase in the incidents of
4 Ways Criminals Are Trying to Cash out Their Bitcoin 4 Ways Criminals Are Trying to Cash out
Due to the increased spotlight on cryptocurrency, criminals are finding it more difficult to cash out their Bitcoin for fiat, but they are finding
Monero Is the Favorite Cryptocurrency of Cyber Criminals, Study Finds Monero Is the Favorite Cryptocurrency
A study found that cybercriminals launder $80-$200 billion a year and are moving away from Bitcoin as Monero offers greater anonymity. Cybercriminals
Internet Providers Caught Deploying Crypto Mining Malware Internet Providers Caught Deploying
If it wasn’t bad enough with hackers and dodgy websites trying to hijack your computer hardware to mine some crypto coins, ISPs have been discovered
Microsoft Thwarts Massive Electroneum Mining Malware Campaign Microsoft Thwarts Massive Electroneum
Microsoft’s Windows Defender reportedly managed to prevent a massive Electroneum (ETN) mining campaign from spreading, according to the IT giant. Per
Comments (0)
Add a comment
Comment on