MASTERMIND BEHIND EUR 1 BILLION CYBER BANK ROBBERY ARRESTED IN SPAIN
Cybercrime syndicate infiltrated over 100 financial institutions in 40 countries
The leader of the crime gang behind the Carbanak and Cobalt malware attacks targeting over a 100 financial institutions worldwide has been arrested in Alicante, Spain, after a complex investigation conducted by the Spanish National Police, with the support of Europol, the US FBI, the Romanian, Belarussian and Taiwanese authorities and private cyber security companies.
Since 2013, the cybercrime gang have attempted to attack banks, e-payment systems and financial institutions using pieces of malware they designed, known as Carbanak and Cobalt.
The criminal operation has struck banks in more than 40 countries and has resulted in cumulative losses of over EUR 1 billion for the financial industry.
The magnitude of the losses is significant: the Cobalt malware alone allowed criminals to steal up to EUR 10 million per heist.