An international law enforcement operation led to the disruption of the infamous 8Base ransomware gang and the arrest of four suspects.
A joint effort involving law enforcement in Asia, Europe, and the US has taken down the notorious ransomware gang 8Base.
The Bavarian police reportedly seized the cybercrime group’s Dark Web site. According to The Register, both the UK’s National Crime Agency (NCA) and Europol contributed to the global police operation.
During the sting, dubbed “Operation Phobos Aetor,” authorities apprehended four European suspects who allegedly stole a staggering $16 million from more than 1,000 victims.
The arrests were made in coordinated raids in Phuket, Thailand. The operation also yielded multiple pieces of evidence, including laptops, phones and crypto wallets believed to be linked to the group’s illicit activities.
US and Swiss authorities reportedly requested the extradition of the suspects, who are wanted on charges of conspiracy to commit wire fraud and conspiracy to commit an offense against the US.
Although the 8Base cybercrime syndicate was formed in 2022, its Dark Web leak portal didn’t go live until May 2023. The group’s sudden ascension placed them among the most notorious new ransomware operators the year of their emergence.
News of the group closing shop has led many to believe its members were attempting to pull an exit scam by pretending to be seized only to make away with their illicit gains.
However, the doubts were quickly put to rest after law enforcement agencies confirmed their involvement in the global sting.
Ransomware gangs and their destructive offspring still largely plague the internet, making it crucial to take proactive defensive measures against them.
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It encompasses numerous relevant features, including multi-layer ransomware protection, network threat prevention, behavioral detection for active apps, continuous, extensive real-time protection and AI-powered scam detection.
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Vlad's love for technology and writing created rich soil for his interest in cybersecurity to sprout into a full-on passion. Before becoming a Security Analyst, he covered tech and security topics.
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