A major Ukrainian-based cybergang was taken down by the Joint Investigative Team (JIT) between June 18 and 19.

Five members of the gang were arrested and accused of infecting tens of thousands with malware and banking trojans.

According to a release, the goal of the JIT was to target high-level cybercriminals suspected of developing, exploiting and distributing Zeus and SpyEye malware along with their accomplices.

Several major banks across the continent were targeted and the malware was modified over time to defeat the banks' security protocols.

Each member of the gang had a specialty and the group as a whole was involved in trading stolen credentials, bank account information, malware, and hacking services for hire in underground fraudster forums. It's been estimated that the gang have caused damages estimated at more than two million euro.

Rob Wainwright, Director of Europol, said in the release that the event was “one of the most significant operations coordinated by the agency in recent years.”

The take down is part of an ongoing investigation that has resulted in the arrest of 60 cybercriminals.

Source: SCMagazine