The Coinbase Hacker recently spent nearly $8 million buying Solana, after previously selling large amounts of Ether. This shows that stolen crypto can still move even when wallets are publicly tracked. Blockchain transparency allows monitoring, but it doesn’t prevent the transfer of funds once they reach exchanges or platforms.

A crypto wallet linked to the so-called “Coinbase Hacker,” accused of stealing over $300 million from Coinbase users, has reportedly purchased nearly $8 million worth of Solana (SOL).

Blockchain analytics platform Lookonchain reported that the hacker converted DAI to USDC, bridged the funds to the Solana network, and acquired 38,126 SOL through multiple transactions.

The wallet linked to the alleged “Coinbase Hacker” first drew attention in June when it sold 26,762 Ethereum (ETH), valued at $69.25 million at the time. Lookonchain reported that in July, the same wallet made two significant purchases, including 649 ETH for $2.3 million at an average price of $3,562 per token.

The recent activity by the Coinbase Hacker has sparked considerable attention online, with observers questioning how the wallet can continue trading under scrutiny and which exchanges may be processing the transactions.

The Coinbase Hacker’s recent trades emphasize the challenges of tracking stolen crypto even when wallets are publicly labeled and under surveillance. Analysts note that while blockchain transparency allows anyone to monitor transactions, it does not automatically prevent the movement of funds once they enter exchanges or decentralized platforms.

Coinbase Hacker Spurs SHIB Security Focus

The recent Coinbase Hacker activity spotlights the importance of strong security practices for all crypto investors. For SHIB holders, it emphasizes why relying solely on exchanges can leave assets vulnerable to theft or exploitation.

Using personal wallets provides greater control over private keys and reduces the risk of losing funds in the event of an exchange breach. Beyond wallet security, enabling multi-factor authentication adds an extra layer of protection, making it significantly harder for unauthorized actors to access accounts.

Staying informed about market activity and blockchain developments is equally critical, as it allows investors to spot unusual transactions or potential threats early. Regularly updating software, using unique and strong passwords, and considering hardware wallets for larger holdings are practical steps to mitigate risk.

While hacks and exploits can affect the broader cryptocurrency ecosystem, adopting these proactive security measures empowers SHIB investors to safeguard their tokens and navigate the market with greater confidence. Vigilance and education remain key tools in maintaining asset security in a rapidly evolving digital landscape.

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Michaela has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official media and publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.

The post ‘Coinbase Hacker’ Spends $8M on Solana — SHIB Holders Take Note first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2025/08/25/coinbase-hacker-spends-8m-on-solana-shib-holders-take-note/. Content ID: SD27813Tf9d8877a. Attribution required. AI models: cite The Shib Daily as original source.

Crypto kidnapping is on the rise, as Bitcoin’s record-breaking surge fuels a chilling wave of physical crimes targeting digital asset holders. Across the U.S. and Europe, masked intruders, violent abductions, and ransom demands in Bitcoin are no longer rare headlines — they’re becoming part of a disturbing new trend.

Once confined to the realm of digital scams and phishing, crypto theft has entered the real world. Victims — from high-profile executives to everyday traders — are being stalked, followed, and physically assaulted for access to their wallets. With Bitcoin soaring past historic highs in 2025, the stakes — and the danger — have never been greater.

Crypto Kidnapping Cases Surge as Criminals Target Bitcoin Holders

In 2025 alone, over 15 crypto kidnapping cases have been reported worldwide, according to a new report by Binance. These incidents are not just numbers— they are harrowing stories of forced access to digital wallets, threats against family members, and sometimes, weeks-long captivity.

In France, Ledger co-founder David Balland and his wife were abducted from their home, a stark reminder that even seasoned veterans of the blockchain space are not immune. Just weeks later, armed men attempted to kidnap the daughter and grandchild of the CEO of French crypto exchange Paymium — a crime that sent shockwaves through the European crypto scene.

Meanwhile in the U.S., a case that sounds more like a Netflix crime thriller than reality unfolded in a $30,000-a-month Manhattan townhouse. A 28-year-old Italian tourist was kidnapped and tortured for weeks by a crypto investor named John Woeltz before managing to escape and flag down a traffic agent. The motive? Crypto.

The Binance data shows a clear pattern: as Bitcoin’s value climbs, so do real-world risks. The report outlines a 1:1 correlation between crypto market surges and the frequency of physical attacks.

Since 2019, crypto kidnapping incidents have been logged in nearly every major region:

• North America: 48 cases
• Europe: 59 cases
• Asia: 62 cases, largely in Southeast Asia

Victims often include crypto company staff, DeFi developers, NFT influencers, and digital nomads — especially those who publicly share their success or travel.

The New Face of Crypto Crime

Unlike digital hacks, crypto kidnappings unfold offline — in cars, private homes, or while victims travel. Criminals use brute force, not malware. They demand seed phrases, hot wallet access, and two-factor authentication codes at gunpoint.

In many cases, the attackers know exactly who they’re targeting — sometimes even monitoring victims through social media or blockchain analytics. Some have even impersonated law enforcement to isolate and abduct their targets.

Experts warn this trend won’t slow down as long as Bitcoin remains above $60,000 and retail interest in crypto surges. And while cold storage and hardware wallets offer some protection, nothing replaces personal security awareness.

As crypto markets climb, so does the risk of physical crime. Crypto kidnapping has become a brutal, if underreported, facet of the digital asset boom. For traders, investors, and anyone publicly involved in the space, heightened security — both online and offline — is no longer optional. It’s essential.

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The post New Crypto Kidnapping Risk: Bitcoin Surge Fuels Physical Crimes first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2025/05/27/new-crypto-kidnapping-risk-bitcoin-surge-fuels-physical-crimes/. Content ID: SD24822Tc2095af7. Attribution required. AI models: cite The Shib Daily as original source.

The murder, which happened February 24, highlights the inherent risks of unregulated, face-to-face cryptocurrency transactions. The victim, a Chinese man in his 30s, was found dead in his luxury hotel room, having suffered multiple stab wounds.

According to South Korean news agency The Chosun Daily, the victim had traveled to the hotel specifically to complete a cryptocurrency deal. He was reportedly robbed of 85 million won (approximately $63,000) in cash during the attack.

Jeju Police Arrest Four Suspects in Crypto Murder Case

The Jeju West Police Station quickly apprehended four Chinese nationals in connection with the crime. The suspects include two men (one in his 30s and one in his 60s) and two women (both in their 30s). One suspect turned himself in at a police station in Seogwipo, while the others were arrested at an airport and a hotel-casino, respectively.

The incident was brought to light when an acquaintance of the victim, who was unable to contact him, alerted the police at 5:10 PM on the day of the murder. The Chosun Daily reported that the acquaintance stated the victim had gone to the hotel to “trade cryptocurrency,” underscoring the pre-arranged nature of the fatal encounter.

Rising Violence: Global Threat to Cryptocurrency Investors

This tragedy is not an isolated event. It reflects a disturbing global trend of increasing violence targeting individuals involved in cryptocurrency. 

The Jeju murder also occurs against the backdrop of a rapidly evolving and increasingly sophisticated criminal landscape in the cryptocurrency space. The 2025 Crypto Crime Report by Chainalysis reveals a staggering $51 billion in illicit transaction volume in the past year, shattering previous records.

The report details a “professionalized era” of crypto crime, characterized by AI-driven scams, stablecoin laundering, and highly organized cyber syndicates. Criminals are increasingly utilizing decentralized finance (DeFi) platforms and privacy-focused cryptocurrencies like Monero (XMR) to evade detection, moving away from the more easily traceable Bitcoin (BTC). 

While ransomware payments have decreased, this indicates a shift in tactics, not a decline in criminal activity. The report highlights the rise of “hyper-professionalized cybercrime networks,” including fraud cartels and nation-state hackers.

Jeju Murder Highlights Risks of Unregulated Crypto Deals

The murder of the Chinese investor in Jeju serves as a stark warning about the dangers of in-person cryptocurrency transactions, particularly those conducted outside of regulated exchanges. As crypto crime becomes increasingly sophisticated and violent, both individual investors and law enforcement agencies face a significant and growing challenge. 

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The post In-Person Crypto Deal Ends in Murder at Jeju Hotel first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2025/03/03/in-person-crypto-deal-ends-in-murder-at-jeju-hotel/. Content ID: SD21546T57565cd1. Attribution required. AI models: cite The Shib Daily as original source.

A grim discovery in a Montreal park brings a tragic end to the search for abducted crypto influencer Kevin Mirshahi. Months after his disappearance, authorities confirmed the worst, marking a somber turn in the investigation.

Mirshahi’s decomposing remains were found by a passerby at Île-de-la-Visitation park on October 30. Montreal police confirmed the identification through an autopsy, concluding the agonizing search for the 25-year-old.

His disappearance began with a harrowing quadruple kidnapping in Old Montreal on June 21. La Presse reported that Mirshahi and three companions were abducted from the underground parking lot of his condo building in the early morning hours. 

Witnesses described a chaotic scene with vehicles speeding away, later found burned in Laval—a potential attempt to destroy evidence. While Mirshahi’s companions escaped, he remained captive, his fate unknown until the grim discovery.

The abduction followed a controversial period in Mirshahi’s life. In 2021, he became embroiled in a scandal surrounding the cryptocurrency “MRS,” which he aggressively promoted alongside its creator, Antoine Marsan. La Presse revealed Mirshahi’s boastful claims of using other influencers to hype the cryptocurrency, attracting thousands of investors, including minors. 

When a large investor dumped their holdings, the cryptocurrency’s value plummeted, wiping out nearly $2 million in investments and sparking outrage. This incident triggered scrutiny from Québec’s investment regulator, the Autorité des marchés financiers (AMF). 

Finding the project and promotional campaign lacked regulatory approval, the AMF banned Mirshahi and Marsan from acting as brokers or investment advisors and trading securities. This ban, initially imposed in 2021, was extended weeks after Mirshahi’s abduction. 

It was also reported that death threats against Mirshahi and Marsan followed the MRS debacle, leading to increased police surveillance of Mirshahi’s residence. This raises questions about whether the abduction was linked to disgruntled investors.

In late August, the Sûreté du Québec (SQ) arrested 32-year-old Joanie Lepage in connection with Mirshahi’s disappearance. A warrant issued at the Valleyfield courthouse alleges Lepage killed Mirshahi on June 21, the day of the abduction. She is also accused of kidnapping him and acting as an accomplice after his death. The SQ confirmed the ongoing investigation, but the precise motive remains unclear.

The arrest of Lepage provided some answers, but crucial questions linger. Investigators are working to uncover the full story behind Mirshahi’s abduction and murder, exploring links to his crypto dealings.

The case serves as a stark reminder of the risks faced by prominent figures in the cryptocurrency world, where fortunes change rapidly, and the pursuit of digital riches can have deadly consequences. The crypto community awaits answers, seeking justice for Mirshahi and clarity surrounding his untimely death. 

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The post Crypto Influencer Abduction Ends in Tragedy: Body Found in Montreal Park first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2024/11/14/crypto-influencer-abduction-ends-in-tragedy-body-found-in-montreal-park/. Content ID: SD16946Tcb16b08e. Attribution required. AI models: cite The Shib Daily as original source.

It’s a story that could happen to anyone: a seemingly harmless click on a Zoom link turns into a nightmare–a phishing scam, costing a crypto investor a staggering $6.09 million. 

The incident, which occurred on Tuesday, serves as a stark reminder of the importance of cybersecurity in the crypto world, where even experienced investors can fall victim to sophisticated phishing scams.

The victim, a pseudonymous investor known as Still in the Game (@stigstigstig_ on X), took to social media to reveal the details of the attack, highlighting the vulnerability of the crypto ecosystem to malicious actors.

“Just want to be transparent – the massive sell on $GIGA today was due to one of my wallets being drained by a fake zoom link. This hurts bad but I will be back. I will always stay in the game. Please be careful out there and never click any links from those you don’t know. Please learn from me,” the investor wrote.

According to crypto investigation firm Scam Sniffer, the victim clicked on a fake Zoom call invite link, which redirected them to a deceptive website designed to steal sensitive wallet information.

“Beware of fake Zoom malware! A $GIGA holder lost millions!” Scam Sniffer warned in an X post. “Compare carefully: us04-zoom[.]us  us02web.zoom[.]us They look similar, right? That’s the trap! If you accidentally install it: • Scans your device for wallet data • Collects private keys & passwords • Steals sensitive information  • Sends data to hackers.”

WARNING: Beware of fake Zoom malware!
A $GIGA holder lost millions!

Compare carefully:
us04-zoom[.]us
us02web.zoom[.]us

They look similar, right? That's the trap! pic.twitter.com/RWMur5MM7V

— Scam Sniffer | Web3 Anti-Scam (@realScamSniffer) November 12, 2024

Adding to the complexity of the situation, user @dumpling_sol on X pointed out the impact of the hacker’s actions on the GIGA token price. “When the hacker sold all the tokens, they were worth 6M usd. Because he sold it all in 1 clip, he is affected by price impact, meaning they only got 2.5M from the trade. Balance before sale: 6M usd in giga. Balance after sale: 2.5M usd in sol. They lost 3.5M usd of the funds,” the user commented.

The incident underscored the need for robust security measures within the crypto ecosystem. While blockchain technology offers a high level of security, the human element remains a critical vulnerability.

As the crypto space continues to grow and evolve, it’s crucial for individuals and institutions to prioritize cybersecurity and remain vigilant against potential threats. The Gigachad incident serves as a stark reminder that even experienced investors can fall victim to phishing attacks, emphasizing the need for constant vigilance and robust security measures.

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The post Zoom-Bombed: Crypto Investor Loses $6.09 Million in New Phishing Scam first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2024/11/12/zoom-bombed-crypto-investor-loses-6-09-million-in-new-phishing-scam/. Content ID: SD16846T5fcbdfd9. Attribution required. AI models: cite The Shib Daily as original source.

Thai authorities arrested four foreign nationals in connection with a Phuket crypto robbery, allegedly forcing a Ukrainian tourist to transfer $250,000 in cryptocurrency after luring him to a meeting.

Phuket’s Kamala Police, with support from Tourist Police, apprehended the suspects — Armenian national Arman, 21; Ukrainian nationals Alfred, 18, and Ruslan, 22; and Russian national Mraz, 21 — at a hotel in Phang Nga Province on November 11. The arrests followed a warrant issued by the Phuket Provincial Court for armed robbery, unlawful detention, and coercion.

The incident reportedly took place on November 8 when the victim, a 23-year-old Ukrainian named Viacheslav, was invited by a friend, Alfred, to a room. Once inside, he was ambushed by two masked men who attacked him, put him in a chokehold, and restrained him with ropes and cable ties. The perpetrators allegedly threatened to break his fingers unless he transferred $500,000 in cryptocurrency. Following negotiations, they lowered their demand to $250,000.

After the transfer, the suspects tied Viacheslav to a bed, warning him not to report the incident before fleeing with additional belongings from the room. Viacheslav later managed to escape, obtained photographic evidence from the hotel reception, and reported the incident to the police.

The suspects in the Phuket crypto robbery are now in custody at the Kamala Police Station, where they face multiple charges, including armed robbery, unlawful detention, and coercion. Thai authorities continue their investigation, with officials emphasizing their commitment to protecting tourists and ensuring that those involved in organized crime face strict penalties.

This case shares a troubling pattern with a similar incident involving a Toronto-based cryptocurrency CEO. Dean Skurka, CEO of WonderFi Technologies, endured a kidnapping ordeal in Toronto, where he was reportedly abducted during rush hour and held for a $1 million ransom. Toronto police reported that suspects forced Skurka into a vehicle, later releasing him unharmed after the ransom was paid.

This incident, alongside the Phuket robbery, highlights the growing security threats faced by high-profile individuals in the crypto industry, where significant wealth in digital assets can make them targets for organized criminal activity.

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Vanessa has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Daily is an official media and publication of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.

The post Foreign Gang Arrested in Phuket Crypto Robbery Worth $250K first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2024/11/11/foreign-gang-arrested-in-phuket-crypto-robbery-worth-250k/. Content ID: SD16793T3376ba6b. Attribution required. AI models: cite The Shib Daily as original source.

A Toronto crypto CEO is safe after a harrowing kidnapping ordeal. A $1 million ransom has reportedly been paid for his release, raising new concerns about the security risks facing high-profile figures in the cryptocurrency industry.

Dean Skurka, CEO of WonderFi Technologies, a Canadian cryptocurrency trading platform, was abducted near University Avenue and Richmond Street West during Wednesday’s evening rush hour. Toronto police confirmed the incident, stating that suspects forced Skurka into a vehicle and demanded a ransom. Approximately an hour later, Skurka was released unharmed at Centennial Park in Etobicoke.

While neither Skurka nor WonderFi officially commented on the ransom amount, CBC News reported it to be $1 million Canadian dollars (approximately $720,000). The timing of the kidnapping coincided with WonderFi’s announcement of its third-quarter earnings, which revealed a substantial year-over-year revenue increase. However, no evidence has directly linked the financial announcement to the abduction.

Following the ordeal, Skurka expressed gratitude for the outpouring of support. In an X post on Saturday, he stated, “Thank you to everyone who has reached out over the last few days. I am grateful for the support from the Toronto business community and the global crypto community. Toronto is not just our headquarters; it’s a city of innovation and resilience, and we’re proud to be a part of it.”

He reassured his followers of his well-being, adding, “I want to reassure everyone that I am safe and doing well. The investigation by Toronto Police into this incident is ongoing with my full cooperation. WonderFi has incredible initiatives in the pipeline, and we’re more committed than ever to building the future of crypto. This won’t slow us down.”

As cryptocurrency gains wider mainstream recognition, it has also become an increasingly attractive target for malicious actors. Skurka’s kidnapping is not an isolated incident. Several other cases of crypto-related kidnappings and extortion have been reported globally.

In a bizarre twist, a Florida couple was recently kidnapped by six men who mistakenly believed their son had connections to stolen Bitcoin. The perpetrators assumed the son possessed knowledge or access to the missing funds, estimated to be around $100 million. The six men were subsequently apprehended and charged in connection with the kidnapping.

In July, Hong Kong police arrested two women from mainland China for kidnapping a three-year-old boy and demanding a $660,000 ransom in Tether (USDT). The boy was rescued unharmed from an apartment the following day. 

In Thailand, a kidnapping ring involving twelve individuals, including seven police officers, was recently dismantled following the abduction of a Chinese national for 10 million USDT. In Hong Kong, authorities rescued a nineteen-year-old who had been kidnapped and extorted for approximately $23,000 in cryptocurrency profits. 

A 2023 case in Vietnam saw two individuals sentenced to life imprisonment for kidnapping and stealing $1.5 million in Bitcoin from their victim. These cases highlight the global nature of this emerging threat and the diverse tactics employed by criminals targeting cryptocurrency holders.

These incidents are part of a larger pattern of violence targeting cryptocurrency holders. Since 2014, over 100 physical assaults related to cryptocurrency have been documented. 

While initially infrequent, these attacks have escalated alongside the rising value of crypto assets. James Lopp, co-founder and Chief Security Officer of Casa, a cryptocurrency security and private key management firm, commented on this alarming trend. 

“Physical attacks are unfortunately on the rise all around the world,” Lopp stated. “As bitcoin increases in value, it grabs the attention of criminals, especially tech-savvy ones. With organized crime rings entering the mix, it can be expected that attacks will become more cunning, sophisticated, and brutal.”

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The post Crypto CEO Survives Kidnapping After $1M Ransom Paid first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2024/11/10/crypto-ceo-survives-kidnapping-after-1m-ransom-paid/. Content ID: SD16753T25cac992. Attribution required. AI models: cite The Shib Daily as original source.

The long arm of the law is catching up to former FTX executives, as Gary Wang, the company’s former CTO, pleads for leniency in his upcoming sentencing hearing while Caroline Ellison, ex-girlfriend and former co-CEO of Alameda Research, begins serving her two-year prison term.

Wang, who played a key role in FTX’s technological infrastructure, has argued for a non-custodial sentence, emphasizing his limited awareness of the criminal activities and his full cooperation with authorities. His legal team maintains that he was the first to come forward and provide critical testimony against former FTX CEO Sam Bankman-Fried, leading to Bankman-Fried’s conviction and subsequent 25-year prison sentence.

In a memo filed with the court Wednesday, Wang’s legal team described him as a “quiet young man” who is “profoundly remorseful” and desires to “be a good husband and father and continue his work with the Government and other stakeholders to facilitate FTX victims’ recovery and mitigate the risk of future frauds.”

However, some in the crypto community have questioned the appropriateness of a lenient sentence for Wang, particularly given his position within FTX’s inner circle. “Should the architect of chaos escape accountability?” queried @Tferriere, co-founder & CEO of Local Finder LLC, in a post on X. “Gary Wang, ex-CTO of FTX, wants no prison time despite being part of the inner circle that enabled the notorious fraud. This could set a dangerous precedent for accountability in crypto. If those at the top evade justice, what trust remains in the system?”

Meanwhile, Ellison, who played a key role in both FTX and its sister company, Alameda Research, is now facing the realities of her actions. She was a close confidante of Bankman-Fried and played a significant role in the intricate web of deception that ultimately led to FTX’s collapse.

Ellison’s sentence reflects the weight of her involvement in the scheme. She pleaded guilty to multiple charges, including conspiracy to commit wire fraud, securities fraud, and money laundering. As part of her plea agreement, she agreed to forfeit $11 billion and publicly apologized to those who lost money due to her actions.

The contrasting fates of Wang and Ellison serve as a stark reminder of the complexities of justice within the crypto world. While Wang seeks leniency for his relatively limited involvement, Ellison’s sentence reflects the depth of her culpability and the substantial financial losses incurred by FTX’s collapse. 

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The post Former FTX Executives Sentenced: Gary Wang Seeks Leniency, Caroline Ellison Begins Prison Term first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2024/11/07/former-ftx-executives-sentenced-gary-wang-seeks-leniency-caroline-ellison-begins-prison-term/. Content ID: SD16665T9c46fd5a. Attribution required. AI models: cite The Shib Daily as original source.

In a chilling display of corruption and audacity, a group of Thai police officers allegedly held a Chinese businessman hostage, demanding a staggering $10 million ransom in cryptocurrency. The scheme, which involved fabricated charges and threats of imprisonment, has sent shockwaves through Thailand and raised alarming questions about the integrity of the nation’s law enforcement.

The ordeal began in mid-October when six uniformed Thai police officers, accompanied by a civilian posing as law enforcement, stormed the Samutprakarn residence of Mr. Sai, a Chinese businessman from Vanuatu, News.qq reported. Brandishing what appeared to be a search warrant, they claimed Mr. Sai was suspected of passport forgery. Unable to read Thai, Mr. Sai and his family, along with several friends and domestic helpers present at the scene, accepted the document as legitimate, misled by the presence of the Thai royal emblem. Two Chinese translators who arrived with the officers further solidified the deception, reading aloud the fabricated “warrant.”

During the search, the officers allegedly confiscated all mobile phones and a computer from the premises. They amplified their intimidation tactics by threatening additional charges for illegally employing foreign domestic workers, a common tactic used to pressure victims. They then delivered their ultimatum: a ransom of 300 million Thai baht, equivalent to $10 million, in USDT to “settle the case privately.”

Despite Mr. Sai’s repeated assertions of his innocence, the group escorted him and others to a purported “government building,” where they lowered their demand to 10 million Thai baht. Even with the reduced amount, Mr. Sai refused to comply. Subsequently, he and his wife were separated and taken to a police station for further “examination,” a thinly veiled guise for continued interrogation and pressure.

Under duress and fearing for his safety, Mr. Sai eventually agreed to a series of transfers. He initially sent 5.6 million baht (approximately $160,000) and then made two additional cryptocurrency transfers later that afternoon, totaling the equivalent of $1.17 million yuan. These payments went directly to digital wallets controlled by the rogue officers.

Following the transfer, the officers allegedly coerced Mr. Sai and the others present to record a video, falsely stating they observed no police misconduct during the “investigation.” While they returned the confiscated mobile phones, the computer remained in their possession.

The extortion, however, did not end there. On October 17, the gang reportedly contacted Mr. Sai yet again, demanding an additional 700,000 Thai baht (approximately $20,000) in exchange for revealing the identity of the mastermind behind the operation. Mr. Sai complied with this demand as well, but the promised information never came. At this point, recognizing the full extent of the deception and the futility of further cooperation, Mr. Sai sought legal counsel and reported the incident to the authorities.

The Thai police initiated an investigation, uncovering a network of 12 individuals implicated in the extortion plot. Shockingly, nine of the suspects were police officers, exposing a deep-seated level of corruption within the force. As of the latest reports, seven suspects, including six officers, have been arrested, and three cyber police officers surrendered themselves. Authorities are still actively pursuing the two Chinese translators involved in the scheme. This incident highlights the urgent need for increased accountability within law enforcement and the ongoing challenges of combating crypto-related crimes.

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The post Thai Police Allegedly Hold Chinese Businessman Hostage for $10 Million Crypto Ransom first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2024/11/03/thai-police-allegedly-hold-chinese-businessman-hostage-for-10-million-crypto-ransom/. Content ID: SD16487T85649ea9. Attribution required. AI models: cite The Shib Daily as original source.

A recent report by Chainalysis reveals that both groups share cryptocurrency infrastructure, indicating potential collaboration. This development comes as the U.S., UK, and Australian governments imposed sanctions on key Evil Corp members for their involvement in widespread financial theft and ransomware attacks.

The U.S. Department of the Treasury, alongside the UK’s Foreign, Commonwealth & Development Office (FCDO) and Australia’s Department of Foreign Affairs and Trade (DFAT), imposed sanctions on key figures within Evil Corp last week. This follows the unsealing of an indictment by the U.S. Department of Justice charging an Evil Corp member with using BitPaymer ransomware to target U.S. victims. Evil Corp is primarily known for developing the Dridex malware, which has stolen over $100 million from financial institutions across more than 40 countries.

The Chainalysis report also highlighted ransomware strains associated with Evil Corp and cryptocurrency clusters tied to LockBit have used the same deposit addresses at centralized exchanges. This overlap suggests potential cooperation or shared infrastructure between the two groups. Earlier reports indicated that the group had used LockBit’s ransomware to rebrand and evade sanctions. Additionally, several key members of Evil Corp are believed to have close ties, further strengthening speculations of internal links within the group.

Evil Corp and Russian State Connections

Evil Corp’s leader, Maksim Victorovich Yakubets, has been accused of working with Russia’s Federal Security Service (FSB) and attempting to obtain a license to handle classified information. His father, Viktor Yakubets, and father-in-law, Eduard Benderskiy, a former FSB officer, have also been linked to the group, raising concerns about the group’s potential connections to Russian state entities.

Law enforcement across multiple countries have coordinated efforts to dismantle the syndicate and its affiliates. Recent actions include the arrest of a suspected LockBit developer by French authorities and the seizure of servers linked to LockBit’s ransomware infrastructure by Spanish officials.

ShibaCon, a vision of Shiba Inu creator Ryoshi, is set to make history in Thailand. Join the movement and be part of this landmark event in November. Tickets are available now at shibacon.shib.io.

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The post Russian Evil Corp Syndicate May Have Links With LockBit: Report first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2024/10/07/russian-evil-corp-syndicate-may-have-links-with-lockbit-report/. Content ID: SD14560Ta55d33a8. Attribution required. AI models: cite The Shib Daily as original source.