$530M Infraud Cybercrime Ring Busted

Submitted by admin on 8th February 2018

The US has taken down Infraud - one of the largest online crime organisations to date.

Charges have been filed against 36 people allegedly involved with Infraud, a global cybercrime ring with roots in the US as well as numerous other countries. Combined, the group is believed to have trafficked in stolen financial data and identities worth over $530 million.

The group’s members were directed to “vending” websites that served as conduits to traffic in stolen identities and banking information along with malware and other stolen illicit goods. It also provided an escrow service to facilitate digital currency transactions among its members, according to the government.

David Rybicki, Deputy Assistant Attorney-General, said that the gang was so prolific that it was uncertain whether victims would ever be made whole. The DoJ have received assistance from PayPal and HSBC, who were named in the proceedings.

With the rise and fall of dark web black markets like Alphabay and the Silk Road, law enforcement officials have repeatedly warned that even anonymity tools like Tor and cryptocurrencies won't hide criminals from the law's long reach. This takedown of another massive cybercrime forum carries a different lesson: It's still possible to create an online black market even outside of the dark web's cover, grow it to a half-billion dollar operation, and get away with it for the better part of a decade.


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