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Cybersecurity

US Cripples China-Backed Global Cybercrime Network Behind Federal Lending Theft

Ransomware actors

US Cripples China-Backed Global Cybercrime Network Behind Federal Lending Theft

The operations of a Chinese-run global cybercrime network halted on Tuesday after the U.S. government identified the people behind a botnet responsible for massive theft called 911 S5.

On Tuesday, the Department of the Treasury’s Office of Foreign Assets Control sanctioned the properties and interests in property of designated individuals and entities associated with Yunhe Wang, Jingping Liu, and Yanni Zheng, individuals allegedly operating the malicious botnet.

The botnet has been operating for at least a decade, conducting fraudulent activities that allowed it to amass billions of dollars from federal lending programs, credit card issuers and other financial institutions, Nextgov/FCW reported.

It was powered by some 19 million internet protocol addresses, composed of millions of exploited residential Windows-powered computers infected by malware.

The downfall of the global cybercrime network comes after the Department of Defense and the FBI countered a botnet launched by the Chinese government-backed Volt Typhoon ransomware group. According to court documents, the botnet disseminated by the hackers aims to cripple critical infrastructure in the country, causing real-world harm to Americans.

Category: Cybersecurity