Catenaa, Wednesday, February 19 – Thai authorities have arrested four Russian nationals suspected of orchestrating crypto ransomware attacks against Swiss companies, marking a significant step in the global fight against cybercrime. The suspects are linked to the notorious 8Base group, known for deploying Phobos ransomware to extort cryptocurrency payments.
The arrests were the result of a coordinated international operation involving agencies from 14 countries. Authorities dismantled 27 servers connected to the criminal network, which is believed to have attacked 17 Swiss companies between April 2023 and October 2024.
The ransomware attacks encrypted company data, with cybercriminals demanding payments in cryptocurrency for decryption keys.
Europol confirmed that the group’s operations have impacted nearly 1,000 victims globally, resulting in the theft of around $16 million in Bitcoin. The 8Base group has earned a reputation for targeting small and medium-sized enterprises, often exploiting gaps in cybersecurity.
The detained individuals, now awaiting extradition, are accused of causing widespread financial and data security damage. The case highlights the growing threats posed by crypto ransomware, with international law enforcement working together to combat this pervasive issue.
Phuket has increasingly become a hub for cryptocurrency-related crimes, with other recent incidents including robberies and scams. As authorities ramp up efforts to tackle these networks, businesses and investors are urged to bolster security measures to safeguard digital assets.
