US Authorities Arrest Cybercriminals Asking Ransoms in Bitcoin

0
89

US Authorities Arrest Cybercriminals Asking Ransoms in Bitcoin

ForexMinute.com – Before becoming an eye-candy for most of the businesses, Bitcoin was known for its extensive use in drug and weapon trafficking all around the globe. Its anonymity made it the safest method for criminals to indulge in socio-threatening crimes. No matter, the events related to cryptocurrency-related crimes are hardly reported nowadays, but it doesn’t mean that they are not conducted. US investigation authorities recently came face-to-face with criminals that were using Bitcoin in, one may say, the most unique manner – by asking victims to pay ransom in it.

The law enforcement groups have recently dismantled one of the largest networks of cybercriminals that were circulated all around the world. After an international investigation – combining a dozen countries and major IT companies – more than 90 cyber pirates were sacked in recent weeks, announced the US authorities.

**relatedarticle**

The busted network was had invented a virus called “Gameover Zeus”, also known as GOZeus. This virus was blamed to have been stolen millions of dollars from multiple businesses and ordinary internet users around the globe. According to the US Department of Justice, there were over 1 million computers that were found to be infected by GOZeus. This virus was being transmitted via email bombs, dressed up in the messages like “phishing”, “I need your help”, “There is a problem with your account”, and “Come see this picture”.

Once the virus was planted, users used to find it impossible to access their documents in computer. The hackers then used to ask the victims to a pay a ransom, that too, in Bitcoin.

As per the reports available on official domains, the brain behind this network was a Russian named Evgenly Mikhailovich Bogachev, who has been previously charged by the Pennsylvanian court for multiple cyber-related offenses, including hacking, financial and bank fraud, and money laundering.

Bitcoin is the future indeed, ours and theirs as well.

To contact the reporter of this story: Yashu Gola at yashu@forexminute.com

Subscribe to our daily forex newsletter for free by visiting www.forexminute.com/newsletter