The post Vietnamese Cybercrime Group Indicted in US for $71M Crypto Hacking Scheme appeared on BitcoinEthereumNews.com.

Key Points: Vietnamese cybercrime group FIN9 faces charges in the U.S. for causing $71 million in losses through cyber attacks between 2018 and 2021. Charges include fraud, wire fraud, computer damage, money laundering, and identity theft, carrying potential prison terms of up to 20 years. Four Vietnamese nationals have been indicted in the United States for allegedly orchestrating cyber attacks that led to over $71 million in losses for victim companies. Read more: Crypto Hacks and Fraud Have Cost $473 Million so far This Year! Vietnamese Cybercrime Group Charged in $71M U.S. Losses The defendants, identified as members of the Vietnamese cybercrime group “FIN9,” are accused of conducting sophisticated hacking operations targeting networks across the United States from May 2018 to October 2021. According to the indictment, the individuals involved are Ta Van Tai (also known as “Quynh Hoa” and “Bich Thuy”), Nguyen Viet Quoc (aka “Tien Nguyen”), Nguyen Trang Xuyen, and Nguyen Van Truong (aka “Chung Nguyen”). They allegedly gained unauthorized access to victim companies’ computer systems through methods including phishing campaigns and supply chain attacks. Once inside, the Vietnamese cybercrime group purportedly stole non-public information, employee benefits, and funds, causing substantial financial harm. Charges Include Fraud, Money Laundering, Identity Theft The cybercriminals exploited their access to redirect digital employee benefits, such as gift cards, to their own controlled accounts. They also targeted and stole personally identifiable information and credit card details from employees and customers of the companies they infiltrated. To obscure their identities, the defendants allegedly used stolen information to create online accounts and conducted transactions, including selling stolen gift cards through cryptocurrency marketplaces. The charges against Tai, Quoc, Xuyen, and Truong include conspiracy to commit fraud, extortion, and related activities in connection with computers; conspiracy to commit wire fraud; intentional damage to a protected computer; conspiracy…

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Filed under: News - @ June 22, 2024 7:22 am