How FBI’s global reach took down a cybercrime unicorn
If cybercrime syndicates were talked about like they were startups, the Fin7 hacking group would be considered a billion-dollar unicorn. Also known as Carbanak, the group has operated on the scale and sophistication level of nation-states since 2014. It’s responsible for the theft of billions of dollars from banks and businesses around the world, leveraging phishing and social engineering to grab bank account and credit card numbers. “For nearly four years, the Fin7 gang has been the major supplier of stolen payment card data to criminals in the dark web,” said Andrei Barysevich, a director at Boston-based cybersecurity firm Recorded Future. “Such data can then be encoded onto any plastic magstripe card, allowing criminals to make in-person purchases.” The arrest of three high-ranking members, which was announced by the FBI on Wednesday, is devastating to the group. But the organization, which has operated using many of the same tools that […]
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