Investigators have carried out one of the biggest takedowns ever of an online crime ring.
The scams: Set up in 2010, the self-styled Infraud Organization (motto: “In Fraud We Trust”) trafficked credit card details, Social Security numbers, and other stolen information on the dark web. It’s thought to have caused $530 million of losses to victims.
The bust: Svyatoslav Bondarenko, a Ukrainian, launched the group, which had almost 11,000 members. He and 35 other ringleaders have have now been indicted by the US Department of Justice.
Why it matters: Cybercrime is a big business, with hackers stealing $172 billion from people in 2017, and coordinating crackdowns across borders is tough. That makes this multinational bust a huge—if all too rare—success.
The US military wants to understand the most important software on Earth
Open-source code runs on every computer on the planet—and keeps America’s critical infrastructure going. DARPA is worried about how well it can be trusted
The hacking industry faces the end of an era
But even if NSO Group is no more, there are plenty of rivals who will rush in to take its place. And the same old problems haven’t gone away.
Corruption is sending shock waves through China’s chipmaking industry
The arrests of several top semiconductor fund executives could force the government to rethink how it invests in the sector.
Energy-hungry data centers are quietly moving into cities
Companies are pushing more server farms into the hearts of population centers.
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