(BlockBar) According to the report, the group received more than €600,000 ($674,000) in bitcoin and laundered more than €1m ($1m). In addition, alicante command reportedly detected a total of 1,020 cybercrimes during the operation including 219 victims from Equatorial Guinea, Spain, Nigeria, Cameroon and Morocco, and another 20 in Israel, Denmark, Germany, France and Greece.
According to La Verdad, law enforcement authorities are aware of unauthorized use of 104 cards in Spain and 12 other countries. Then a complaint from a car rental company sparked an investigation that detected unauthorized use of bankcards on an online service.
The group allegedly operates in three different ways: through E-mail fishing (posing as a trusted individual and requesting bank credentials), cloning physical cards, or obtaining credentials from credit card receipts, commonly known as attacking the credit card box
The group reportedly used the aforementioned methods to obtain credit cards to pay for hotels, flights, train tickets and car rentals and then resale it to clients at ultra-low prices. The group, based in Estonia, Britain and Finland, bought bitcoins with illegal gains
In March Spain arrested eight people suspected of carrying out a money-laundering scheme involving cryptocurrencies. Law enforcement teams are also taking action against cryptocurrency anonymity services, known as cryptocurrency mixers or converters
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