Malware writer pleads guilty to helping $568 million cybercrime ring:
Another key member of the massive Infraud cybercrime ring is likely heading to prison. Software writer Valerian Chiochiu has pleaded guilty to RICO conspiracy for helping Infraud Organization develop and use FastPOS malware that helped the group steal massive amounts of data. Infraud is now believed to have stolen enough identities, payment cards and other sensitive data to produce $568 million in losses.
Chiochiu will be sentenced on December 11th. A co-founder and administrator of Infraud, Sergey Medvedev, pleaded guilty on June 26th.
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Malware Writer Pleads Guilty to Helping $568 Million Cybercrime Ring
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(Score: 3, Insightful) by Nuke on Tuesday August 04 2020, @08:40AM (6 children)
From the Engadget article :
I'm trying to understand what exactly is the "worth". Is it what they actually sold this data for, or did someone pull that figure out of the air? What exactly are the losses? It seems to me that the real usefulness of this data in the end is worth a lot less than it is sold for by the data scrapers and the middlemen.
It seems to me that the losses are that someone had the top bit of their Ponzi Scheme pyramid stolen (or rather copied I suspect) by Infraud.
(Score: 3, Insightful) by Rosco P. Coltrane on Tuesday August 04 2020, @09:13AM (3 children)
The "worth" doesn't matter. The "who stolen from" is what matters. If the baddies stole money from poor smucks, the guy will serve a few years in prison. If a single dollar was stolen from a rich man, or someone in power, it'll be splattered all over the news for weeks and the guy will get life.
(Score: 2) by jimtheowl on Tuesday August 04 2020, @09:32AM (2 children)
As for the human garbage scums that engage into this kind of shit, I would like to see them spend 60 seconds, one on one with each of the people they have stole identities from.
(Score: -1, Redundant) by Anonymous Coward on Tuesday August 04 2020, @10:54AM (1 child)
Have you tried remedial reading/comprehension classes?
Specifically the ones where they analyze writing and break it down to help you understand the meaning.
(Score: 2) by jimtheowl on Tuesday August 04 2020, @11:50AM
(Score: 0) by Anonymous Coward on Tuesday August 04 2020, @10:23AM (1 child)
I always assume they count the related credit card fraud cases, and hence give an actual number. but I guess I was naive...
(Score: 0) by Anonymous Coward on Tuesday August 04 2020, @12:23PM
Most likely estimated from prior known loss averages, then extrapolated up for all the cases they will never pin on this group. Much like how drug busts are the full street retail prices, or more like how stocks are (over)valued. Maybe not as extreme as modern IP piracy is lossted ;j