A member of a large-scale hacking network has been arrested in Ukraine
Ukrainian law enforcement agencies have detained another member of a transnational hacking group that has been terrorizing companies and citizens in Europe and the United States, as part of a large-scale special operation.
This was reported by Prosecutor General Ruslan Kravchenko.
The suspect served as the “cashier,” responsible for laundering and legalizing millions of dollars obtained through cyber extortion.
The total amount of damages caused by this network has already exceeded $100 million.
The criminal scheme was based on the use of malicious software, with which hackers stole victims’ confidential data and documents.
After successfully breaching the systems, the attackers demanded huge ransom payments from the victims in exchange for returning the information or guaranteeing its non-disclosure.
The funds received were transferred to controlled crypto wallets for subsequent withdrawal into the shadow economy.
The illegally acquired assets were laundered directly in Ukraine, converting virtual millions into luxury real estate and valuable property.
The detained accomplice had built a complex system for cashing out cryptocurrency in an attempt to conceal the origin of the funds.
However, during thirty authorized searches, law enforcement officers managed to track down the financier and document his activities.
The court has already imposed a preventive measure of detention on the suspect, setting a record-breaking alternative bail amount of 399 million hryvnias.
This decision reflects the scale of the damage caused and the high risk the group’s activities pose to the country’s international reputation. Previously, one of the scheme’s organizers and another active participant in the network had already been charged.
During recent investigative actions, assets worth over 80 million hryvnias were seized, and the total value of frozen property reached 11.1 million U.S. dollars.
Among the seized items are residential buildings, apartments, luxury cars, $1 million in cash, and significant amounts of cryptocurrency.
Most of the frozen virtual assets are worth approximately $8.3 million at current exchange rates.
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