The reigning kingpin of cybercrime marketplace Infraud arrested in Thailand, Cops seized over 100,000 Bitcoins – worth $822 million
Sergey Medvedev, 31, was allegedly arrested by heavily armed police officers from Thailand on Feb. 2. Medvedev is your co-founder of Infraud, an online market for criminal buyers and vendors interested in stolen identities, stolen credit card information, credit card skimming devices, ATM compromisers, narcotics, weapons, protected creatures, illegally acquired government documents, and other illegal wares. The team’s motto is “In Fraud We Trust.”
The Russian government has been detained at his Bangkok apartment on Feb. 2 by request of U.S. government, after visiting Thailand six years back.
According to reports, 30 CSD officers raided Medvedev’s flat last Friday, where they arrested the culprit while seizing a laptop computer and many documents.
According to The Bangkok Post, the evidence seized during the raid on the Medvedev’s apartment suggests that he had over 100,000 Bitcoins, which were accumulated through illegal activities.
Police Maj. Nathapol Ratanamongkolsak, a CSD inspector, stated:
Mr Medvedev is the head of a criminal organization which has affected the global economy and public in general. He concealed his identity in cyberspace and traded in illicit items using digital currency to avoid arrest.
Medvedev is defined to be extradited to face prosecution in the united states. Medvedev isn’t the only Infraud cybercriminal detained last week.
13 of 36 wanted men supposedly involved with Infraud were taken into custody globally, with suspects detained in the united states, France, the uk, Italy, Australia, Kosovo, and Serbia. People on foreign land are awaiting extradition to the United States.
Thai Police Maj. Nuthapong Rattanamongkolsak, the arresting officer, says officials are monitoring members organization for ages. “Before the surgery could be prepared,” he said, “they needed to recheck their aims in a variety of nations.”
Since Bitcoin and cryptocurrency become increasingly more mainstream, international law enforcement is very likely to become informed in regards to catching cyber criminals.