Hacking, money laundering and violence: The Emirates dismantle 4 networks linked to cryptos

From computer hacking to physical violence. Police in Sharjah, United Arab Emirates, announced on October 15 the dismantling of four interconnected criminal networks in Operation End of Battle. According to the authorities, their activities combined data theft, misappropriation of cryptocurrencies and money laundering. A 15-year-old teenager constituted an important lead for investigators.

Key Points

Four specialized networks combined hacking, money laundering, manipulation of victims and attacks.

The authorities announce more than 200 million dirhams seized, or approximately 54 million dollars.

The investigation concerns 8.825 billion dirhams of alleged money laundering, or approximately $2.4 billion.

Four networks for hacking, stealing and laundering cryptocurrencies

According to the press and the police, each group fulfilled a specific function. The first hacked computer systems to steal personal information and databases. The second laundered funds through digital assets and other financial channels. The third manipulated victims to gain access to their wallets.

Finally, the fourth group allegedly committed physical attacks to obtain wallet access codes. The organization thus associated computer intrusions with the constraint exerted directly on the holders of cryptocurrencies.

Investigators examined more than 3,000 digital wallets. The authorities also claim to have protected more than 30 companies and institutions, whose assets represented more than 65 billion dirhams. This amount corresponds to the assets protected, not the money recovered from the suspects.

A 15-year-old leads investigators to the network

The first investigations led the police to a teenager with a wallet containing large sums of cryptocurrencies. According to police statements reported by The National, this lead made it possible to identify other suspects.

Investigators also discovered a private group on a social network, whose access code changed every eight hours. International cooperation then made it possible to find suspects abroad and bring them back to the Emirates.

Finally, according to Khaleej Times, 33 people and entities, including six companies, were referred to the Sharjah Criminal Court. The people involved represent twelve nationalities. The prosecution describes funds passing through bank accounts, wallets and intermediaries before their conversion into real estate or investments.