Catenaa, Friday, November 29, 2024 – The US Department of Justice (DOJ) has charged five men in connection with a series of phishing campaigns targeting employees of multiple companies.
The men, aged between 20 and 25, allegedly used phishing text messages to harvest employee credentials, which they then used to steal millions of dollars from cryptocurrency accounts.
The individuals, who face a federal grand jury indictment, are charged with conspiracy to commit wire fraud, conspiracy, and aggravated identity theft.
Some of the defendants have pleaded not guilty.
The group is believed to be part of “Scattered Spider,” a hacking collective known for its attacks on major companies, including Caesars Entertainment and MGM Resorts International.
The group primarily engages in data theft and extortion, employing social engineering techniques and ransomware.
The charges carry severe penalties. If convicted, the men could face up to 20 years for wire fraud, five years for conspiracy, and a mandatory two-year sentence for identity theft.
US Attorney Martin Estrada called the group’s actions a “sophisticated scheme” that led to the theft of proprietary information worth millions.
The DOJ’s announcement highlights the growing threat of phishing attacks in the cryptocurrency sector. Reports show an increase in such incidents, with some victims losing significant amounts of money to fraudsters.
