A cybercrime network accused of stealing $11 million in cryptocurrency and sensitive data has led to charges against five individuals in the United States.
According to the California US Attorney’s Office, the accused sent deceptive text messages containing phishing links and committed SIM-swapping fraud. Investigators revealed that the group often impersonated companies, claiming users’ accounts were at risk of deactivation, to manipulate victims into divulging sensitive information.
The network reportedly targeted 45 organizations across multiple countries, including the United States, the United Kingdom, and India. Among their victims was an unnamed US cryptocurrency exchange whose employees were specifically targeted using fraudulent communication.
Did you know?
Subscribe - We publish new crypto explainer videos every week!
What is VeChain? VeChain Coin Explainer (ANIMATED)
Federal authorities have identified the five accused individuals as members of the Scattered Spider hacking group, which operated from September 2021 to April 2023. Those charged include Tyler Buchanan from Scotland, Noah Urban from Florida, Evans Osiebo from Dallas, Ahmed Elbadawy from Texas, and Joel Evans from North Carolina.
Prosecutors have charged all five with conspiracy, wire fraud conspiracy, and aggravated identity theft. These charges carry severe penalties, including a potential 20-year sentence for fraud-related offenses.
Despite identifying some members and their locations within the US, federal agencies, including the FBI, have struggled to disrupt Scattered Spider's operations effectively.
Crypto crimes often make headlines for their audacity and scale. Just recently, the infamous "Razzlekhan" was sentenced to 18 months for laundering Bitcoin tied to the Bitfinex hack. How did this self-proclaimed "Crocodile of Wall Street" pull it off? Read the full story.
