The co-founder of the Infraud group had more than 100,000 bitcoins earned from illegal operations

The co-founder of the Infraud group had more than 100,000 bitcoins earned from illegal operations

The US Investigation Office (FBI) claims that Sergey Sergeyvich Medvedev, a Russian citizen recently arrested in Bangkok, is the co-founder of the Infraud group – an international cyber crime syndicate. It was said that at the time of the arrest, Medvedev had more than 100,000 bitcoins.

Sergey Medvedev arrested by police in Thailand

Sergey Sergeyvich Medvedev was accused of being the co-founder and the second in the hierarchy of the international criminal syndicate Infraud. The dark web market associated with the criminal group has been confiscated and removed from the Internet by US authorities.

Medvedev is a Russian citizen and fled to Thailand six years ago. Thailand’s Crime Suppression Division (CSD) found the 31-year-old man in Bangkok after investigations in collaboration with the FBI.

Major Nathapol Ratanamongkoslsak of the CSD said that “the United States has requested help from the police in Thailand, and the police commissioner has asked the division to work on this case as early as 2017.”

Medvedev, in possession of over 100 000 bitcoins

Medvedev was arrested during a break at his apartment in the Sukhumvit area. 30 CSD officers have raided an aptitude and seized several documents and a laptop from Medvedev.

CSD agents claim that they sell illegal products on the Dark Web for bitcoins. The Bangkok Post local newspaper reported that “judging by the evidence obtained during the February 2 raid, it seems that Mr. Medvedev had more than 100 000 bitcoins. ” The rating makes Medvedev one of the world’s great wealthy, with the equivalent of 8-900 million dollars in the electronic wallet.

Thailand’s Central Investigation Office Director, Thiraj Nhongharnpitak, confirmed that the raid occurred but refused to give more details about the operation. He said he would soon publish more information on the subject.

The FBI has been following the Infraud site for a long time

Infraud was created in 2001 by Medvedev in partnership with Ukraine’s Svyatoslav Bordarenko. Infraud has been described as a focal point for credit card fraud, and prosecutor general David Rybicki said the site was the “meeting point for criminals around the world.”

According to the reports, similar operations were carried out, with 18 other members of the Infraud arrested in over 10 different countries. In the past, investigations have also been conducted that have led to the arrest of 32 other individuals suspected of being involved in this group.

Major Nattapol Rattanamongkol said it was a Security Department operation involving spontaneous raids in 14 countries.

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