The US & Europe have separately announced major takedowns of cybercrime networks that defrauded people of billions.
The US has arrested Chinese national YunHe Wang & seized assets including a Ferrari, luxury watches & 21 properties.
While Europol, Europe’s crime agency, has made 4 arrests but said 8 fugitives are on the run. They will be added to Europe’s “most wanted” list.
Europol
Both the US Department of Justice (DoJ) & Europol each claimed their operations were the biggest bust of a “botnet” in the world.
Cyber-criminals use so-called botnets to take over peoples’ computers & install malicious software.
This software can then be used to collect data from a computer, send spam or even delete personal data without the owner’s knowledge.
Fraud & Bomb Threats
The DoJ commented that Mr Wang is accused of using a botnet to hack into more than 19m devices across almost 200 countries.
Nicole Argentieri, Principal Deputy Assistant Attorney General, observed: “Wang created malware that compromised millions of residential computers around the world & then sold access to the infected computers to cyber-criminals.”
She explained that criminals used this access to conceal their identity & “anonymously commit a wide array of offenses”. These include fraud, child exploitation & harassment – & even bomb threats.
Fraudulent Claims
It also estimated that more than 500,000 fraudulent unemployment insurance claims were sent from computers under his control, resulting in a loss of more than $5.9bn (£4.6bn).
The DoJ accused Mr Wang of using the proceeds to buy $60m worth of luxury assets, & said it had seized a Ferrari, a Rolls-Royce, 2 BMWs & several watches – as well as bank accounts and cryptocurrency wallets.
He also bought property in the US, St Kitts & Nevis, China, Singapore, Thailand % the UAE, it commented.
Law enforcement agencies in Singapore & Thailand, as well technology giant Microsoft, were among the organisations that helped with the investigation.
Mr Wang has been charged with conspiracy to commit computer fraud, substantive computer fraud, conspiracy to commit wire fraud & conspiracy to commit money laundering.
If convicted on all counts, he faces a maximum penalty of 65 years in prison.
Europe’s Most Wanted
Meanwhile, Europol revealed that it had arrested the ringleaders of several cybercrime networks that used botnets.
It has made arrests in Armenia & Ukraine & taken down servers across the world including in the UK, the US & Germany.
More than 2,000 websites are now under the control of European law enforcement.
Europol stated that one of the main suspects had made more than €69m (£58m) in cryptocurrency through ransomware – installing software that makes it impossible for a person to access their computer unless they pay a fee.
Fugitives
In addition, 8 fugitives who are on the run & wanted in Germany for their involvement in cybercrime will be added to Europe’s most wanted list.
The malicious software got onto peoples’ devices mainly through phishing attempts – such as the kind of emails people are advised not to click on – & compromised websites.
Europol commented that the takedown – dubbed Operation Endgame – is ongoing & it has plans for future busts.
