Police dismantle the ‘most dangerous’ criminal hacking network

Platform News: State backed hackers, cyber crime and cyber security

International law enforcement agencies have said they had hammered a criminal hacking scheme used to steal tens of thousands of dollars from companies and private citizens worldwide.

Authorities in six European nations, as well as Canada and the United States, completed a joint operation to seize control of Internet servers used to run and control a malware network known as “Emotet”, police said in a statement.

“Emotet is currently seen as the most dangerous malware globally,” Germany’s BKA national police bureau said in a statement.

“The smashing of the Emotet infrastructure is a significant blow against international organised Internet crime.”

Emotet is used by cyber criminals to gain access to a victim’s computer prior to then downloading extra malicious software, like trojans designed to steal banking passwords or ransomware that can lock a pc before an extortion charge is paid.

Security experts state Emotet’s operators often market access to victims’ computers to other hackers, using a “malware-as-a-service” business model that has made them among the world’s most profitable and damaging cybercrime groups.

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German police said ailments with Emotet had caused at 14.5 million euros (approximately $17.56 million) of damage in their nation. Globally, Emotet-linked damages price about $2.5 billion, Ukrainian government said.

Ukraine’s General Prosecutor said authorities had carried out raids in the eastern city of Kharkiv to seize computers used by the hackers. Authorities released photos showing piles of bank cards, money and a room festooned with tangled computer equipment, but did not say if any arrests were made.

The team at Platform Executive hope you have enjoyed this news article. Translation from English to other languages via Google Cloud Translation. Initial reporting via our official content partners at Thomson Reuters. Reporting by Zuzanna Szymanska in Gdansk, Pavel Polityuk in Kyiv and Jack Stubbs in London. Writing by Jack Stubbs. Editing by Bernadette Baum.

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