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In Fraud we trust – Russian cybercriminal pleads guilty in US Court

Infraud scam principal pleads guilty in US cout

The Russian citizen Sergey Medvedev, 33, was one of the leaders of the cybercrime organization and dark-web marketplace Infraud. On June 26, 2020, he pleaded guilty to RICO conspiracy before a US Court the U.S. Department of Justice announced.  Medvedev was arrested in Thailand in 2018 and extradited to the United States. It has been reported that at the time of his arrest, Medvedev controlled more than BTC 100,000 (appr US-$910 Million). According to several reports, Medvedev used to be Infraud’s No 2.

According to the US indictment, Infraud was created in October 2010 by Svyatoslav Bondarenko aka “Obnon,” “Rector,” and another not identified Ukrainian individual with the moniker “Helkern,” 34,. The cybercrime organization developed into a premier destination for “carding”—purchasing retail items with counterfeit or stolen credit card information—on the Internet.  Under the slogan, “In Fraud We Trust,” the organization directed traffic and potential purchasers to the automated vending sites of its members, which served as online conduits to traffic in stolen means of identification, stolen financial and banking information, malware, and other illicit goods.  The organization also provided an escrow service to facilitate illicit digital currency transactions among its members. In March 2017, there were 10,901 registered members of the Infraud

Since its inception, the Infraud Organization allegedly inflicted approximately $2.2 billion in intended losses, and more than $568 million in actual losses.

CategoriesCyberscams

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