Russia Arrests 50 People In The Bust Of The Largest Ever Hacking Ring

The Federal Security Service (FSB) and the Ministry of Interior carried out a nationwide raid in Russia where around 50 people had been arrested in part of a hacking ring that allegedly stole $25 million from financial institutions inside the country. The busts resulted not only in the arrest of people, Russian law enforcement authorities seized the computers, other electronic devices, financial documents and a large amount of cash from the accused criminals.

According to cybersecurity firm Kaspersky Lab, who helped identify the hackers before they would make their second move for an additional $35 million, the cybercriminal group used a malicious software called “Lurk” on financial institutions’ websites. This resulted in the infection of the banks’ users’ computers. Through this method, the hackers acquired the login credentials of the banking clients and could steal their money using different techniques. Ruslan Stoyanov, head of computer incidents investigation at Kaspersky Lab, made this statement:

“Our company’s experts analyzed the malicious software and identified the hacker’s network of computers and servers. Armed with that knowledge the Russian Police could identify suspects and gather evidence of the crimes that had been committed. We look forward to helping to bring more cybercriminals to justice.”

About six financial institutions were targetted by the hacker group, including Metropol, Regnum, Russian International Bank, and Metallinvestbank, the latter just had a $10 million damage caused by the cybercriminal gang.

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