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Latvian Fraud Ring Allegedly Purchased Bulk PII on the Darkweb

A fraud ring in Latvia purchased personally identifiable information in bulk on darkweb forums, according to an announcement from the Latvian State Police.

The takedown was the result of an investigation led by the Cybercrime Division of the Economic Crime Department of the State Police in February 2020.

A picture of Police seized hundreds of thousands of dollars in cash during the investigation

Police seized hundreds of thousands of dollars in cash during the investigation

The fraud ring–established in 2015–purchased stolen information on the darkweb in bulk, including passwords, payment information, and access to accounts on other platforms. According to the announcement, the group primarily focused on defrauding PayPal and eBay. Investigators have identified only 1,000 suspects but believe the actual number of suspects in the United States and Western Europe is much higher.

After completing a scam, the group laundered their proceeds through gold and cryptocurrency. During the execution of search warrants at the suspects’ homes and properties, the police found:

  • $125,000 in Bitcoin, Ripple, Ethereum, and Tether;
  • More than €280,000 in cash;
  • More than $37,000 in cash

They also seized 11 properties worth more than $360,000 and three vehicles worth more than $34,000.

The police are holding two of the three suspects until their upcoming court appearances. All three face a mandatory minimum sentence of three years and could serve up to 12 years behind bars.

7 Comments
isit
9187b470 Tue, Jul 21, 2020

is this cashmoneyteam from alphabay? they were main player with paypal and had lots of people involve with them cashing out... end of an era

Dennis-is-a-nazi-f
f55c0420 Tue, Jul 21, 2020

This could be the cash out money team for sure .. it lines up with them not being on jabber since around the time of this bust. Sucks they were good people

wonder
8c77a950 Tue, Jul 21, 2020

Thats all they caught them with? Thats chump change. Hopefully they had the other millions stashed away and didn't blow it all.

cashout
f2b0f900 Wed, Jul 22, 2020

"11 properties worth more than $360,000", shit, are properties this cheap in Latvia, sign me up for 2.

vel
2a85f7e0 Wed, Jul 22, 2020

time to buy some ripple

LatviaIsPoor
b9f16b20 Fri, Jul 24, 2020

Dude saying $400,000 is chump change, doesnt know shit about how the earth works. A house in Latvia costs $10,000 and a dinner .50cents. $400,000 is an asston of money there.

real latvian
86081410 Wed, Jul 29, 2020

No, house cost 120-250k euros in Latvia, cars cost more than in US, dinner 35 euro, hooker 150-200 for hour.

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