The post Russian Hackers Arrested in Thailand for Global Ransomware Attacks appeared on BitcoinEthereumNews.com.

Four Russian nationals were arrested in Phuket for using the Phobos ransomware, targeting Swiss companies and 1,000 global victims. Thailand strengthens cybersecurity with blockchain advisors and considers legalizing online gambling to boost economic growth. Dawn still blankets Phuket and at a magnificent beachside villa, an international law enforcement operation is under way. Four Russian nationals have been arrested on suspicion of participating in a worldwide cyberattack using Phobos ransomware. Following months of diligent inquiry, Thai, US, and Swiss investigators have worked together to produce the arrests. With a total loss of around $16 million in Bitcoin, almost 1,000 victims globally—including 17 Swiss businesses—are thought to have fallen victim to the scam. Phuket, Thailand, law enforcement authorities on Monday detained four Russian citizens suspected of carrying out crypto-ransomware attacks. They used ransomware to attack 17 Swiss companies between April 2023 and October 2024. In addition, the suspects are also linked to… — Wu Blockchain (@WuBlockchain) February 13, 2025 Phobos: A Cyberweapon Under the Wrong Hands For many small and medium-sized companies, the Phobos ransomware has become a plague. Simple but lethal is its approach: data is encrypted, a company’s systems are compromised, victims are compelled to pay a ransom in crypto to have their data returned. Many of them still lose access even after making the payment, though. One Swiss victim even claimed missing months of operating data, which resulted in bankruptcy. Moreover, the hacking group thought responsible for the attack is 8Base, which has been aggressive in disseminating Phobos to other corporate sectors. Authorities confiscated gear, including sophisticated hacking tools and digital logs of Bitcoin transactions, during the Phuket raid. International Collaboration and Regulatory Changes The raid wasn’t just a local endeavor. Involving intelligence organizations from 14 nations—including the US FBI, the Japanese National Police, and the UK National Crime…

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Filed under: News - @ February 14, 2025 3:23 pm