Leader cyber frauds arrested in Thailand

- The possible leader of a global gang of cyber criminals has been arrested. The 31-year old Russian Sergey Medvedev was arrested in his home in the Thai capital Bangkok. He may be extradited to the United States. The arrest happened last Friday already, but is now confirmed by the Thai police against Thai media.

Medvedev would have led the Infraud Organization gang together with a fugitive Ukrainian. The United States has sued 36 alleged gang members this week. Thirteen of them were arrested. They come from the United States, Great Britain, Italy, Serbia, Kosovo and Australia. Medvedev was not on that list.

The gang acted online in birth dates, passwords and citizen service numbers, which had been stolen from all over the world. Almost 11,000 people were affiliated with it. They used the information for fraud. In addition, Infraud helped fraudsters to launder money with virtual coins like the bitcoin. Since its founding in 2010, Infraud Organization has caused damage of more than half a billion dollars. The motto of the gang was 'In Fraud We Trust' (Fraud be with us).

The arrested Medvedev owned 100,000 bitcoins according to Thai media. At the current price, that is worth almost 700 million euros.