FBI Bust Vietnamese Cyber Gang After $71M Crypto Heist
A Vietnam crypto cybercrime gang pulled off a huge $71M crypto heist, but how much stolen Bitcoin has hit the market? Here’s the lowdown.
Four hackers from the infamous FIN9 group have been charged with attacking U.S. companies, causing over $71 million in losses.
The U.S. Attorney’s Office for New Jersey fingered Vietnamese nationals Ta Van Tai, Nguyen Viet Quoc, Nguyen Trang Xuyen, and Nguyen Van Truong as the culprits.
The Indictment and Charges Brought by the FBI
The indictment outlines how, from May 2018 to October 2021, these cyber thieves used phishing and supply chain attacks to infiltrate corporate networks, swiping non-public information and employee benefits from their victims.
FBI Newark Special Agent in Charge James E. Dennehy stated, “Cyber actors cloak themselves in the virtual world, hiding in a space most people can’t see and don’t understand. However smart these hackers believe they are at disguising themselves, these members of the FIN9 group couldn’t conceal their exfiltration of data from their victims’ companies.”
Upon gaining access to company networks, they redirected this data to accounts they controlled and created fake crypto exchange accounts with it.
The stolen data was then used to register online accounts at cryptocurrency exchanges under false identities.
A Complex Web of Cybercrimes That Will Leave You Speechless
FBI brings charges against FIN9 members, including conspiracy to commit fraud, extortion and money laundering related to hacking attacks that resulted in over $71 million in losseshttps://t.co/S5U4SKWw8C
— crypto.news (@itscrypto_news) June 22, 2024
FIN9’s operation was epic in scope. They broke into networks through third-party vendors and ran amok, redirecting employee benefits, fencing stolen gift cards, and using swiped PII and credit card info to set up bogus crypto accounts.
Charges against them include conspiracy, fraud, extortion, wire fraud, and hacking. Thanks to the relentless work of the FBI’s Newark and Little Rock Cyber Squads, these hackers are finally facing justice.
“The FIN9 defendants were prolific international hackers who, for years, allegedly used phishing campaigns, supply chain attacks and other hacking methods to steal millions from their victims. They did all of this while hiding behind keyboards, VPNs, and fake identities.” – U.S. Attorney Philip R. Sellinger
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The Impact and Future Outlook For Crypto Security
The indictment of the FIN9 crew underscores the persistent menace of cybercrime. In an age where businesses live online, strong cybersecurity is essential.
With millions lost and sensitive data breached, the fallout continues to haunt victims.
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Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
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