Polish police bust a SIM swapping gang suspected of cryptocurrency theft

CoinFeed June 27 news, according to Bitdefender, the Polish Central Bureau for Combating Cybercrime stated that police detained four individuals suspected of operating a large criminal gang. The gang hijacked phone numbers, hacked into cryptocurrency exchange accounts, and through SIM swapping attacks, used bank accounts, payment platforms, and digital wallets for money laundering. Authorities estimate the laundered proceeds exceed millions of dollars. These funds were transferred through personal bank accounts in and outside Poland, international payment platforms, and multi-currency digital wallets. Currently, the four suspects have been remanded in custody awaiting trial, facing charges including participation in an organized criminal group, computer system intrusion, and money laundering, with a maximum sentence of 25 years imprisonment if convicted.