Over $8.5 Million in Bitcoin seized by Police of Israel

Large measures of anti-money laundering action has been taken by the cyber department of the State Attorney’s Office
27 May 2018   745

The organization filed an indictment, stating that Hilmi Git had managed to commit more than 20,000 swindling transactions with Israeli credit cards, laundering the money via the Bitcoin network. Halmi Git, a resident of Hebron, has been charged of multiple scams with credit cards, providing means for committing a crime, carrying out fraudulent trade activity, and laundering the proceeds through Bitcoin. 

According to the report, the Git managed to pile up a total of 1,071 Bitcoin over the course of his crimes. At that time of press, Bitcoin is trading at $7,342.21, making the total value of Git’s fraud at a little over $7.8 million. 

Git processed a forum network and websites used to deliver information on how to commit a range of computer violations. One of these forums is affirmed to have provided stolen credit card information. At the time when the entry to the forum was free, members could acquire a “VIP” membership to gain “fresh” credit card data. Git issued various guides in violation with the country’s Computers and Money Laundering Law. Git also managed another scam, fraudulently realizing mobile phones – often members of his own forums –  at significantly reduced prices.

The indictment dispalys a scheme in which Git would require that the customer transfer his money for the phone, after which point he would proceed to block the client from the forum without ever actually having sent the customer their phone. He would go on to issue a positive feedback message on behalf of the deceived customer, expressing gratitude for the cheaper mobile phone. 

The Israeli State Prosecutor’s Office declares that Git had demanded all the payments to be made in Bitcoin. As such, he has reportedly managed to accumulate more than 1,071 Bitcoin between 2008 and 2018. The Bitcoin wallet of the defendant has been seized and the funds in it are to be confiscated if and when he is found guilty of his crimes.

Ryuk Ransomware Team to Get 705 BTC

CrowdStrike and McAfee believes the program was created and supported by Russians
15 January 2019   97

In less than six months, hackers got 705 bitcoins through Ryuk ransomware, reports The Block.

Until recently, the group of hackers GRIM SPIDER behind Ryuk was supposed to be operating from North Korea. However, according to the companies CrowdStrike and McAfee, the program was created and supported by Russian hackers.

Ryuk is distributed via email-phishing, where the TrickBot Trojan is involved. The main objectives of the ransomware program are large companies and government organizations. Ryuk blocks the victims' hard drives until they pay the ransom. The amount of the latter often depends on the size and significance of the organization.

The program is "famous" for the impressive amounts of required buybacks:

To date, the lowest observed ransom was for 1.7 BTC and the highest was for 99 BTC. With 52 known transactions spread across 37 BTC addresses (as of this writing), GRIM SPIDER has made 705.80 BTC, which has a current value of $3.7 million. With the recent decline in BTC to USD value, it is likely GRIM SPIDER has netted more.
 

CrowdStrike

705 bitcoins at the current exchange rate is about $ 2.6 million.