Millions of dollars and sports cars confiscated in police raids

The US and Europe Crack Down on Cybercrime Networks

In a significant move, both the US and Europe have recently announced major crackdowns on cybercrime networks that have defrauded individuals of billions of dollars.

US Operation Against Cybercriminal

The United States Department of Justice (DoJ) made headlines by arresting Chinese national YunHe Wang, who is accused of using a botnet to hack into more than 19 million devices across nearly 200 countries.

The DoJ alleges that Wang created malware that compromised millions of residential computers worldwide and then sold access to these infected computers to other cybercriminals. This access was used for a variety of criminal activities, including fraud, child exploitation, and even bomb threats.

Assets Seized from Mr. Wang

The DoJ revealed that Wang used the proceeds from his criminal activities to purchase around $60 million worth of luxury assets. As a result of the investigation, law enforcement authorities were able to seize a Ferrari, a Rolls-Royce, two BMWs, several watches, as well as bank accounts and cryptocurrency wallets.

Additionally, properties owned by Wang in the US, St Kitts and Nevis, China, Singapore, Thailand, and the United Arab Emirates were also confiscated.

Charges Against Mr. Wang

Mr. Wang has been charged with multiple offenses, including conspiracy to commit computer fraud, substantive computer fraud, wire fraud, and money laundering. If found guilty on all counts, he could face a maximum prison sentence of 65 years.

European Efforts Against Cybercrime

Europol, Europe’s crime agency, also made significant strides in combating cybercrime by arresting the ringleaders of various cybercrime networks that utilized botnets.

Arrests were made in Armenia and Ukraine, and servers across multiple countries, including the UK, the US, and Germany, were taken down. More than 2,000 websites are now under the control of European law enforcement.

Operation Endgame

Europol’s operation, known as Operation Endgame, is an ongoing effort to combat cybercrime. The agency has plans for future arrests and takedowns to ensure the safety and security of individuals online.

Read More of this Story at – 2024-05-30 11:12:07

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