Polish police just

Polish police just raided and arrested four members of a sim swapping gang stole millions in crypto with the help of FBI and Homeland Security. Above is the official body cam. Operation was carried out by Poland's Cybercrime Bureau with support from the FBI and HSI. Gang breached companies that work telecommunication operators. Hijacked employee email accounts to obtain data needed to carry out sim swaps. Here's how sim swapping works. Once they had the right data, they illegally cloned and took over the victim's phone numbers. Meaning any SMS based two factor authentication went straight to the attackers. From there they gain control of accounts at cryptocurrency exchanges and drain them. Polish authorities estimate that the value of funds laundered exceeds several tens of millions of Polish Zloty. Translates to at least $5 million. The gang treated this as a regular source of income using multiple bank accounts across various countries and digital wallets to move their funds. All four are in pre-trial detention, facing charges of participation in an organised crime group, hacking into IT systems to commit theft and money laundering. Maximum penalty is 25 years in prison. Blockchain investigator ZackXBT identified one of the arrested members, Wojtek Kulisz, his alias Merry based on the photos released from the raid. Follow for more cybercrime news.