Chinese National Arrested for Cyber Crimes
Singapore’s Straits Times newspaper recently reported the arrest of a 35-year-old Chinese national, Wang Yunhe, in Singapore on May 24. The arrest was part of an international operation conducted by the United States Department of Justice (DOJ).
Allegations and Charges
- Wang Yunhe was charged with creating and using malware for cyber attacks, large-scale fraud, and child exploitation.
- He was accused of distributing malware to compromise millions of residential Windows computers globally.
- Between 2018 and July 2022, Wang allegedly received $99 million from selling hijacked IP addresses, either in cryptocurrency or fiat currency.
Financial Impact
The DOJ stated that cybercriminals who purchased access to infected IP addresses were able to bypass financial fraud detection systems, resulting in the theft of billions of dollars from various institutions.
- One notable case involved fraudulent unemployment insurance claims amounting to over $5.9 billion originating from compromised IP addresses.
Assets and Properties
According to the DOJ, Wang used the illicit proceeds to acquire assets in multiple countries, including the United States, St. Kitts and Nevis, China, Singapore, Thailand, and the United Arab Emirates.
- His possessions included sports cars, luxury watches, over two dozen cryptocurrency wallets, and 21 properties worldwide.
International Cooperation
The DOJ highlighted that the operation involved a collaborative effort among law enforcement agencies in the U.S., Singapore, Thailand, and Germany.
Matthew S. Axelrod, assistant secretary for export enforcement at the U.S. Department of Commerce’s Bureau of Industry and Security, described the case as resembling a dramatic screenplay due to the scale and impact of the cybercrime scheme.
