US Charges 3 With Vast ‘Crypto Jacking’ Computer Fraud Scheme

US Charges 3 With Vast ‘Crypto Jacking’ Computer Fraud Scheme

U.S. prosecutors charged three Chinese nationals with allegedly mounting a global hacking campaign to steal sensitive corporate data from over 100 companies and installing a mass network of crypto-mining malware.

According to an indictment dated May 2019 and unsealed Wednesday, Jiang Lizhi, Qian Chuan and Fu Qiang ran their multi-year front out of the purportedly “white hat” Chinese cybersecurity firm Chengdu 404 Network Technology Co. They’re being charged with money laundering, conspiracy, identity theft and a raft of computer-related allegations, based on allegations they operated a vast crypto-jacking scheme and installed malware on victim computers, among other charges.

Chengdu 404’s “offensive” operations are what raised prosecutors’ ire. Their indictment outlines how Chengdu 404’s chief officers targeted at least 100 “victim companies, organizations and individuals” with a multi-year cyber scheme that employed “big data” analytics to maximize its impact. 

Beginning in May 2014, the trio “conspired to commit a sprawling array of computer intrusions targeting protected computers belonging to hospitality, video game, technology and telecommunications companies, research universities, non-governmental organizations, and other organizations around the world,” according to the indictment.

They allegedly stole source code and customer data from the companies, deployed “supply chain hacks” to knock out customers’ own computers like dominoes, infected networks with ransomware and installed cryptocurrency mining malware to bolster Chengdu 404’s bottom line.  

“The underlying common goal of

Continue reading

You Might Like

Do NOT follow this link or you will be banned from the site!