Sports cars and millions seized in cybercrime busts

Kathmandu: The US and Europe have separately announced major takedowns of cybercrime networks that defrauded people of billions. The US has arrested Chinese national YunHe Wang and seized assets including a Ferrari, luxury watches and 21 properties.

While Europol, Europe’s crime agency, has made four arrests but said eight fugitives are on the run. They will be added to Europe‚Äôs “most wanted” list. Both the US Department of Justice (DoJ) and Europol each claimed their operations were the biggest bust of a “botnet” in the world.

Cybercriminals use so-called botnets to take over peoples’ computers and install malicious software. This software can then be used to collect data from a computer, send spam or even delete personal data without the owner’s knowledge.

Source: AP