[2018-03-29] Spanish Police Arrested Hacker Who Stole $1 Billion Using Cryptocur

[Vladdirescu87]

A cybercrime gang leader, involved in stealing upward of $1.2 bln, has been arrested in Alicante, Spain. The gang ,consisting of Russian and Ukrainian nationals, robbed around 100 financial institutions worldwide and covered its tracks with the help of crypto coins.

According to the Spanish newspaper, the criminal group led by Denis K. invaded remotely into bank systems in order to change the state of owners’ accounts, making major transactions, or to change the balance of deposits opened by its members. The stolen money they converted into digital currency.

Read the details in the article of Coinidol dot com, the world blockchain news outlet: https://coinidol.com/spanish-police-arrested-hacker/

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[kevoh]

Hope this is not an attempt by the media to link cryptocurrency to criminal activities? The financial institutions should be receiving the blame for not having security measures in place for their systems to prevent hacking of customers' accounts.

Meanwhile, good job to the Spanish police!

[Alex077]

The same news looks different in various sources. It was a big group of hackers which was engaged in carding and insider's data trading and with the result that they caused $1.2 billion in damage in five years, but it doesn/t mean that they put this money in their pocket

[darkangel11]

Hope this is not an attempt by the media to link cryptocurrency to criminal activities? The financial institutions should be receiving the blame for not having security measures in place for their systems to prevent hacking of customers' accounts.

Meanwhile, good job to the Spanish police!

You can stop hoping now. They will turn this into another argument of why crypto should be banned. Those are the same cretins that walk around cities screaming that guns kill people. I'm fine with the hackers being caught, but we can't deny them ingenuity. They are the best testers of security systems out there and the fact that they were able to keep stealing money from the banks only shows how vulnerable their system was. Sooner or later somebody would abuse the flaw anyway. Those guys should get employed and made to improve the security instead of being prosecuted.

[Jating]

Hope this is not an attempt by the media to link cryptocurrency to criminal activities? The financial institutions should be receiving the blame for not having security measures in place for their systems to prevent hacking of customers' accounts.

Meanwhile, good job to the Spanish police!

You can stop hoping now. They will turn this into another argument of why crypto should be banned. Those are the same cretins that walk around cities screaming that guns kill people. I'm fine with the hackers being caught, but we can't deny them ingenuity. They are the best testers of security systems out there and the fact that they were able to keep stealing money from the banks only shows how vulnerable their system was. Sooner or later somebody would abuse the flaw anyway. Those guys should get employed and made to improve the security instead of being prosecuted.

I agree. Media will connotate crypto with criminals. Just look at how this article, this has nothing to do with crypto, those hackers attacks the financial systems and just converted it to cryptocurrency.

So this sort of news will really put cryptocurrency in another bad light which may add negative things to the already volatile network.

And it says that cryptocurrency helps them cover their track. How can those criminals get caught when the authorities were able to arrest them?

[Hammond ltd]

Actually it wasn't a single person, it was an orginized group of hackers born in Russia and Ukraine. If I'm not mistaken, they managed to steal $1,24 bln
Greeting to spanish cops, well done!

[FrueGreads]

Hope this is not an attempt by the media to link cryptocurrency to criminal activities? The financial institutions should be receiving the blame for not having security measures in place for their systems to prevent hacking of customers' accounts.

Meanwhile, good job to the Spanish police!

I thought exactly the same thing when I first read this. I'm sure cryto haters will use case to link criminals to cryptocurrencies, and say how bad they are, and that it's only value is for this type of activities. They should of course focus the news that maybe banks are not as safe as we think. I actually have a friend who lost around $5000 that simply left his account. The bank say it was a normal transaction made to a foreign bank, and that they cant revert it, or do anything about it because it was a normal transaction. My friend is sure he never did that, so assuming this was not a pure steal from the bank, they were probably hacked, and this case just died and he lost his money without the bank taking any blames.

[Sazakan]

Very nice, this is going to slowly increase the trust into the market again, showing that such a kind of virtual crime also has very real consequences. Quite a funny picture in the OP post too, to tell the truth, i chuckled.

Any new system like that is open to countless threats, which must be eliminated on a trial-and-error-base, one security failure at a time.