Published: Fri, February 09, 2018
Economy | By

Global cyber crime ring smashed after more than $530 million stolen

Global cyber crime ring smashed after more than $530 million stolen

The group wanted to be known as the Internet's leading location for carding-buying retail items with counterfeit and stolen credit cards. As a mostly English-language fraud forum, Infraud attracted almost 11,000 members from around the globe who sold, traded and bought everything from stolen identities and credit card accounts to ATM skimmers, botnet hosting and malicious software.

Infraud is the biggest online fraud group ever prosecuted by the US Justice Department.

The group, which adopted the slogan "In Fraud We Trust", had been operating since 2010. He is alleged to operate a trusted "escrow" or currency exchanging service to ensure transactions between Infraud members, according to the Department of Justice. Administrators also meted out punishments to members who broke rules and to members of rival criminal groups.

Super Moderators oversaw and administered specific subject-matter areas within their expertise. The other five were arrested in the US.

She pointed to a southern Nevada investigation that led to charges against 55 people tied to a credit card fraud syndicate known as "Carder.su", which authorities said trafficked stolen identities and cost victims more than $50 million.

Prosecutors claim the three-dozen alleged scammers meant to generate upwards of $2.2 billion in stolen revenue from consumers, businesses, and financial institutions. Actual losses-which hit a wide swath of financial institutions, merchants, and private individuals-totaled more than $530 million.


Automated vending sites: "Automated websites that do require human intervention to function and that are used by Infraud members to purchase and sell illicit goods".

Another suspect, 28-year-old Valerian Chiochiu - aka "Onassis", "Flagler", "Socrate" and "Eclessiastes" - of Moldova joined the organization in 2012 and "provides guidance to other members on the development, deployment, and use of random access memory ('RAM') point-of-sale ('POS') malware as a means of harvesting stolen data", according to the indictment. The prohibition was likely an attempt to prevent members from being detained or prosecuted by authorities in Russian Federation. That service was run by Infraud co-founder Sergey Medvedev, as per the indictment. Ukrainian national Svyatoslav Bondarenko is accused of being the chief architect of the scheme, while other members had strictly defined roles in the hierachy, according to the DoJ. He stopped posting to the forum in 2015.

The Infraud organization online site now resolves to this takedown notice.

Of the 36 people indicted, Justice Department officials said that 13 have been arrested in the United States, Australia, the United Kingdom, France, Italy, Kosovo and Serbia. Significantly, those arrested include alleged kingpin Medvedev. The rest remain at large.

Update: Added the organizational chart and details on arrests.

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