The new contribution of this year’s crypto frauds makes headlines in our crypto news for a group of Call Of Duty players being suspected of planning to steal more than $3 million worth of cryptocurrency.
According to a Chicago Sun-Times report, the group includes two men from Illinois and they allegedly hacked into crypto wallets after gaining illegal access to their victims’ phones.
According to the police statements, gamers met the both of these men online while playing this simulation video game where they claimed to be forced to take part in SWATing which a term that means creating a false alarm about a crime that is happening at a given address so law enforcement could be sent to the address. The members even sent one person a list of the victims’ details and asked from him to hijack a hundred phones so they could steal the crypto wallets.
This is more popular as SIM hijacking since most of the phones have crypto wallets or are linked to a crypto address. Once, a bitcoin investor sued AT&T after losing $24 million worth of cryptocurrency to SIM hijacking because the hijackers managed to transfer his phone number and reset his password and then find his crypto wallet.
FBI also got involved but refused to provide the names of the suspects since they are not charged with any crime yet. According to the FBI, the group is suspected of stealing more than $3.4 million in different cryptocurrencies by moving stolen tokens via crypto exchanges before sending them to their own wallets.
The FBI agents went to one of the suspects’ home where they seized phones and computers and they also found transcripts of text messages.
QuadrigaCX Co-Founder Was Involved In Criminal Activities In The Past
Boston Legal System Damaged After BTC Ransomware Attack
“CPCS’s computer systems have been attacked and are not working properly. We are still representing clients. In addition, there is no evidence that confidential information from clients has been released as a result of these attacks.”Initially, the attack happened on February 27. The organization believed that paying the ransom means a waste of money so they decided to restore the systems manually. Two weeks after, the entire justice system in Boston can feel the damaging effects. The agency cannot really say how long the delay will last or when they will get back online. In the meantime, people working in the agency cannot use their email or enter the agency’s website. Ransomware attacks became popular in 2015. The attackers mainly targeted police agencies that end up paying the ransom. The public infrastructure is always a target of ransomware attackers since the offer public services and cannot end up being crippled because the people are the ones who pay the higher price. The public defenders didn’t say how much money the attackers demanded. However, the cost to unlock a computer could start from $100 up to thousands of dollars. The attackers usually target victims individually but law enforcement agencies or other government agencies are not excluded. Last year, a couple of Dutch hackers were sentenced to community service after attacking more than 1,000 computer systems and gathering over $11,000.
Thieves Steal $200k Worth Of Bitcoin (BTC) Across 7 Canadian Cities
OneCoin Founders Charged Of Fraud By US District Attorney
“As alleged, these defendants created a multibillion-dollar ‘cryptocurrency’ company based completely on lies and deceit. They promised big returns and minimal risk, but, as alleged, this business was a pyramid scheme based on smoke and mirrors more than zeroes and ones. Investors were victimized while the defendants got rich. Our Office has a history of successfully targeting, arresting, and convicting financial fraudsters, and this case is no different.”The New York County District Attorney Cyrus R. Vance Jr. claimed that the defendants created an old-school pyramid scheme compromising the integrity of the entire financial system in New York by defrauding investors for billions of dollars.
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