In a major international operation, Thai law enforcement arrested four Russian nationals in Phuket on Monday. The suspects are accused of launching ransomware attacks on 17 Swiss companies and stealing approximately $16 million worth of Bitcoin from around 1,000 victims worldwide.Â
The arrests highlight the growing threat of cybercrime and the importance of global cooperation in combating cryptocurrency-related attacks.
Ransomware Attacks and the 8Base Group
The suspects are believed to be part of the 8Base ransomware group, which has been linked to multiple cyber extortion schemes.Â
According to Thai authorities, the group used Phobos ransomware—a type of malware that encrypts victims’ data and demands a cryptocurrency ransom to restore access.
Between April 2023 and October 2024, the accused allegedly deployed Phobos ransomware on the networks of 17 Swiss companies, disrupting operations and forcing some to pay hefty ransom.
Investigators say the suspects also stole Bitcoin from individuals and businesses worldwide, accumulating approximately $16 million in illicit gains.
International Cooperation Leads to Arrests
The arrest operation was a coordinated effort between Thai law enforcement, Swiss authorities, and U.S. agencies.
According to Pol Lt Gen Trairong Phiewphan, commissioner of Thailand’s Cyber Crime Investigation Bureau, international warrants had been issued for the suspects, leading Thai police to track them down in Phuket.
During the raid, officers seized over 40 pieces of evidence, including laptops, smartphones, and digital wallets, which are expected to provide further insights into the group’s operations.
Swiss authorities have already requested the extradition of the suspects, who now face serious charges related to cyber extortion and financial crimes.
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Phuket: A Hub for Crypto-Related Crime?
Phuket has recently emerged as a hotspot for cryptocurrency-related criminal activities. Just earlier this year, Thai and Chinese authorities arrested two Chinese scammers in Phuket, seizing $2.5 million in USDT from their illegal operations.
In another recent incident, Thai police launched a search for Russian suspects involved in an assault and robbery of a fellow Russian national in Karon, Phuket. The attackers allegedly stole $20,000 over a cryptocurrency dispute, further highlighting the island’s growing role in digital asset-related crimes.
Global Cybercrime and the Need for Stronger Security
As authorities continue to dismantle these networks, investors and businesses are being urged to strengthen their cybersecurity measures.
The rise in ransomware attacks highlights the need for better data protection strategies, stricter regulatory frameworks, and improved cross-border enforcement to prevent financial losses in the ever-evolving world of digital assets.