Wednesday

Tyler

ZachXBT

Gary

Federal prosecutors have charged five alleged members of “Scattered Spider,” a hacking group accused of targeting companies and individuals in a spree of cyberattacks. 
According to <a href="https://www.documentcloud.org/documents/25355101-usa-v-buchanan-complaint-redacted" target="_blank" rel="nofollow">court documents</a> unsealed Wednesday in California, the defendants allegedly stole sensitive data and at least $11 million in cryptocurrency between late 2021 and mid-2023. 
According to Bloomberg, the group <a href="https://www.bloomberg.com/news/articles/2024-11-20/us-accuses-five-in-scattered-spider-cybercrime-spree?srnd=phx-crypto" target="_blank" rel="nofollow">reportedly used tactics</a> like phishing — posing as trusted entities via text to trick victims into sharing login credentials — and SIM swapping In SIM swapping, a hacker gains control of a victim’s phone number to bypass security and access accounts.&nbsp; 
Prosecutors said the hackers targeted company networks to steal confidential information and gain control of cryptocurrency accounts and wallets, according to Bloomberg. 
 You might also like: <a rel="" href="https://crypto.news/new-yorker-involved-in-6-5m-crypto-theft-zachxbt/"> New Yorker involved in $6.5m crypto theft: ZachXBT </a> 
<h2 class="wp-block-heading" id="scattered-spider-members">Scattered Spider members&nbsp;</h2> 
Unlike many cybercrime groups often linked to countries like Russia or North Korea, Scattered Spider includes members based in the U.S. and U.K. 
The defendants—Noah Urban, 20, of Florida; Joel Evans, 25, of North Carolina; Ahmed Elbadawy, 23, and Evans Osiebo, 20, of Texas; and Tyler Buchanan, 22, of Scotland—face charges tied to attacks on at least 29 individuals and several companies. 
“This case demonstrates how a small group of individuals can cause enormous damage to businesses and individuals in a short time,” Martin Estrada, U.S. Attorney for the Central District of California, told Bloomberg. 
The victims included telecommunications companies, IT outsourcing firms, and a cryptocurrency exchange. 
Roughly $4 million in cryptocurrency has been recovered, but investigators are still assessing the total financial and data losses. Buchanan, who remains outside the U.S., was identified through domain registrations for fake websites used to deceive victims, court filings show. 
Attorneys for most of the defendants were unavailable for comment. Urban, known as “Sosa” in the SIM-swapping community, pleaded guilty to related charges earlier this year, according to Bloomberg. 
 You might also like: <a rel="" href="https://crypto.news/ftxs-gary-wang-spared-prison-time-in-fraud-case/"> FTX’s Gary Wang spared prison time in fraud case </a>

US charges five individuals linked to ‘Scattered Spider’ crypto theft

Table of Contents

crypto.news

Other articles published on Nov 20, 2024

Binance Announces BFUSD with High APY but Faces UST Comparisons

BlackRock Bitcoin ETF options see ‘unheard of’ $1.9B traded on first day

U.S. DOJ Investigating Polymarket for Alleged U.S. Citizen User Activity

Polygon Holds Steady at $0.37 But Is it Time to Worry About SAND and AAVE?

Coinbase CEO Brian Armstrong to Meet President-Elect Trump Over Possible Crypto Regulation

Aptos (APT) rallies after launching emoji coin platform

Join our free newsletter for daily crypto updates!