Summary: Two Russian nationals have been charged with stealing approximately $5.8 million worth of XRP cryptocurrency from a Philippine virtual currency exchange, after hacking into the company’s system and attempting to transfer the stolen funds through various cryptocurrency services to hide their origin and destination.
Threat Actor: Vladimir Evgenevich Avdeev and Sergey Yaschuck | Vladimir Evgenevich Avdeev, Sergey Yaschuck
Key Point:
- Two Russian nationals, Vladimir Evgenevich Avdeev and Sergey Yaschuck, have been charged with stealing approximately $5.8 million worth of XRP cryptocurrency from a Philippine virtual currency exchange.
- The suspects were former employees of Coins.ph, a company owned by financial services firm BETUR, Inc.
- Avdeev and Yaschuck hacked into the company’s system and stole 12.2 million XRP valued at PHP340.745 million.
- The stolen funds were then attempted to be transferred through various cryptocurrency services to obfuscate their origin and destination.
- Avdeev faces 23 counts of cybercrime with bail set at PHP120,000 for each count, while Yaschuck faces three counts with the same bail amount.
Original Source: https://www.pna.gov.ph/articles/1228602
Cyber Law and Cybercrime Investigation Blog: Immuniweb