Ukrainian law enforcement has arrested another member of a large-scale international hacking group that organized cybercrimes against individuals and companies in Europe and the USA. The suspect is accused of laundering illegally obtained funds through the use of cryptocurrencies.
This is reported by Finway
Operation of the Hacking Group
Investigators have determined that the criminals used specialized malware to steal personal data and important documents. After gaining access, they blackmailed the victims, demanding ransom for the return of control over the information and for not disclosing confidential data.
All funds obtained from criminal activities were transferred to cryptocurrency wallets controlled by group members. Subsequently, these assets were converted into cash and laundered in Ukraine through the purchase of real estate and luxury items.
“Preliminary estimates indicate that the total damages exceed $100 million.”
Arrests, Detentions, and Asset Seizures
During additional searches, the location of another group member was discovered, and he was promptly arrested. The court has imposed a preventive measure of detention with the possibility of bail set at 399 million UAH.
As part of the investigation, over 30 searches have been conducted, assets worth over 80 million UAH have been seized, $1 million in cash has been confiscated, as well as cryptocurrencies worth $8.3 million. Among the seized assets are residential houses, apartments, and cars.
It is worth noting that earlier, Ukrainian and Baltic law enforcement agencies had already uncovered similar fraud schemes targeting EU citizens under the guise of investments in supposedly promising crypto projects.