Cybercrime

The cybercrime department of the Turkish police has arrested four people following the loss of $2 Billion from a cryptocurrency exchange. The arrested people included the head of Vebitcoin, one of the sites that became inaccessible leading to loss of funds. The culprits were rounded up in the province of Mugla southwestern Turkey.

The authorities of Ukraine have recently rolled out a new bill combating cybercrime that also describes the procedure for the confiscation of cryptocurrencies obtained illegally.

Belarus cybercrime authorities want to confiscate cryptocurrency involved in criminal activity, including money-laundering, terrorism financing and other fraudulent operations. All they need is an official permission from the government and the President.

A new deadly virus known as Dharma is seriously infecting computers (PCs) and servers by encrypting and locking files, which can only be successfully unlocked via a Bitcoin payment, responsible authorities warned on October 16, 2018.

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.

The modern world relies on the Internet, virtual reality and IT solutions more than ever before and has become especially tasty for cybercriminals. It is a big market with real problems. The anti-virus companies turnover $8.5 billion a year and are expected to reach $6 trillion by 2021. Today, up to 70% of new threats go undetected and the cost of cybercrime damages is expected to double by 2021.