Suspected cybercrime mastermind behind US$1.2 billion bank hacks is arrested in Spain
Europol said the hacking group had operated in 40 countries, targeting 100 banks, and could make ATMs spit out money at will
Spanish police have arrested the suspected leader of a gang of cyber criminals who stole up to €1 billion (US$1.2 billion) from banks by altering account balances and instructing automatic teller machines to issue cash at will, Europol said on Monday.
The person suspected of being behind malware attacks known as “Carbanak” and “Cobalt” was arrested in Alicante, a port city on the southeast coast of Spain, after cooperation between police forces in the United States, Asia and Europe, Europol said.
The Interior Ministry said “Denis K”, who had directed the criminal organisation from Spain since 2013, was arrested with three members of his organisation, who originally came from Russia and Ukraine, it said. The Ukrainian police did not provide further details.
Europol said the group had operated since 2013, with members in 40 countries carrying out attacks on 100 financial institutions.
They targeted bank employees with emails infecting their computers and then using them as a base to gain control of bank networks and servers.
“With that level of access, the nefarious individuals authorise fraudulent bank transfers, raise the balances of mule accounts or command affected ATMs to spit out the money for them,” Europol said.