Dark Web’s largest cybercrime group indicted after stealing $530M

Infraud organization is the largest group of cybercriminals on Dark Web – Their official motto is “In Fraud We Trust.”

After managing to steal over $530 million, a cybercrime ring has finally been hammered by US law enforcement authorities and its 36 members have been indicted. The accused have close ties with the globally active identity theft ring, which was referred to as the “one-stop shop for cybercriminals.”

The group dubbed as the Infraud Organization was established in 2010 and used to sell stolen credit card information on the Dark Web. The organization believed in the motto “In Fraud We Trust.” The group ran an online buy and sell forum where not just stolen credit card numbers but Social Security Numbers, bank account numbers and similar other private and confidential data was bought and sold, explained the US Justice Department.

Authorities are claiming that it is one of the biggest cybercrime organizations that have so far been persecuted and that the accused participated in a worldwide operation under the Infraud Organization, and targeted individuals across the globe. Infraud Organization was launched by a 34-year-old man from Ukraine called Svyatoslav Bondarenko with the aim to establish the internet’s largest Carding group through this organization.

The Justice Department’s statement revealed that there were around 10,901 registered members of this organization by March 2017 and each member was assigned a specific role ranging from administering the strategic planning of the organization and approving members to facilitating criminal activities.

According to Acting Assistant US Attorney General John Cronan, the losses caused by the group through the massive operation spanning over seven years’ time have a cumulative total of $2.2 billion. Law enforcement authorities in the US have arrested 13 people from different countries including Australia, France, Italy, Kosovo, Serbia, the United Kingdom and the United States and they are currently waiting to be extradited. Law enforcement agencies from across the world participated in the investigation including the UK, France, Italy, Australia, and Luxembourg apart from the US.

Investigations suggest that over 4.3 million credit and debit cards, as well as a bank account, were targeted by this group. A majority of the members of Infraud Organization never even met each other and only contacted online. The indictment was unsealed on Wednesday in Nevada. It is the very first time that the Justice Department has arrested anyone having connected with this group.

Dark Web’s largest cybercrime group indicted after stealing $530M
Members of Infraud organization (Open in new tab to view the image in high resolution)

“This case reflects the alarming and increasing threat posed by cybercrime. The Department of Justice refuses to allow cybercriminals to hide behind the anonymity of the web while stealing personally identifying information, emptying bank accounts, and wreaking havoc on our nation’s digital infrastructure and financial system,” explained Deputy Assistant Attorney General David Rybicki.

Image credit: Pixabay/CeruleanSon

Waqas

Waqas Amir is a Milan-based cybersecurity journalist with a passion for covering latest happenings in cyber security and tech world. In addition to being the founder of this website, Waqas is also into gaming, reading and investigative journalism.