Kingpin of Infraud, Sergey Medvedev has been taken into custody by Thai officials
Feb 13, 2018 Posted / 3498 Views
The co-founder of an online criminal Network Infraud, Sergey Medvedev has been arrested on 2nd February. The network served as a platform for trading illegal items such as stolen credit card information, Narcotics, Weapons, government documents etc for buyers and sellers. Usually, The exchange used to take place in the darknet.
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With the arrest of Medvedev, the law enforcement officials also seized 100,000 Bitcoins whose current value is more than $850 million and have been worth $2 Billion at the time of Bitcoins peak price.
Medvedev is a Russia-based online crime kingpin and was traveling in and out of Thailand from past six years on the tourist visa. As per reports by Agence France, on first Friday of February, the armed police officials said that they confiscated 29 electronic items from the apartment and took Sergey into custody. On Tuesday the organizations' main servers were also seized in Paris.
The U.S. Justice Department charged 36 people with an offense of being involved in the Infraud Organization which was founded in the year 2010 and was a one-stop shop for cybercriminals for their needs. The organization served with a slogan ‘in fraud we trust’ and involved around 11,000 individuals who traded approximately 4.3 million credit and debit cards globally and accounted an illegitimate loss of $530 million to lawful individuals and companies. As per sources, initially, the organization was controlled by Svyatoslav Bondarenko which was overtaken by Medvedev in the year 2015 when Svyatoslav Bondarenko went missing.
In an interview with CBS News the Thai Police Maj. Nuthapong Rattanamongkolsak said that U.S. Officials started tracking down group members since 2014 when they sent an undercover agent to sign up as a member of Darknet.
"Before the operation could be ready, they had to recheck their targets in various countries," -Nutthapong
Las year Thai officials successfullyarrested another online crime master Alexandre Cazes. He operated an elicit dark web marketplace, Alphabay where illegal items such as guns and narcotics could have been purchased by anyone, unlike Infraud organization which inspected its members. Alexander was a 26-year old Canadian who was found dead in his cell after his arrest. Reportedly, he committed suicide by hanging himself.
The police officials arrested 13 wanted individuals for cybercrime from different parts of the world such as California, U.K., Kosova, Serbia and New York and Medvedev is one of them.
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