New York trial puts 3 cyber criminals in jail for trafficking over 95000 credit cards and stealing millions of dollars.
Douglas Latta, Anna Ciano and Egor Shevelev were found guilty of conspiracy, scheme to defraud, grand larceny and criminal possession of stolen property. They had been part of the “Western Express Cybercrime Group” from 2001-2007 in which stolen credit-card numbers and personal identifiers were trafficked through internet forums – using digital currencies such as Egold and Webmoney for payment. The money was then laundered through a company called Western Express, owned by Vadim Vassilenko who, along with 10 other gang members, has pleaded guilty to various charges.
Manhattan district attorney Cyrus Vance says: “It was a highly profitable scheme that netted the principals millions of dollars. I am pleased that these defendants have been sentenced to prison sentences appropriate to the scope and breadth of their misconduct.”
ConsenSys Announces Ethereal Summit Tel AvivGo to article >>
While the news of these men being locked away brings us some comfort, we cannot ignore the fact that they are not the only ones out there. Questions about the safely of digital currencies have become hot topics and while they provide the international internet community with expanded payment opportunities, they also leave us vulnerable to criminal activity.
Image courtesy of Flickr