Six arrested over role in EUR24 million typosquatting crypto theft

Six arrested over role in EUR24 million typosquatting crypto theft

UK and Dutch police have arrested six people for their alleged role in a EUR24 million cryptocurrency crime ring.

The suspects were arrested following simultaneous search warrants that were carried out in Charlcombe, Bath, Trowbridge, UK, as well as Amsterdam and Rotterdam, the Netherlands.

The investigation relates to ‘typosquatting’, where a well-known online cryptocurrency exchange is ‘spoofed’, or recreated to imitate the genuine site, to gain access to victims’ Bitcoin wallets, stealing their login details and funds.

At least 4 000 victims in 12 countries were fooled by the bogus Websites. More are expected to emerge following forensic investigation of electronic devices siezed during the raid.

The arrested individuals are suspected of having committed computer misuse act offences and money laundering.
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