Authorities Dismantle SocksEscort Proxy Network and Crypto Fraud
US and European authorities dismantled SocksEscort, a proxy service used by cybercriminals for fraud, including cryptocurrency theft.Summary
US and European authorities have disrupted the SocksEscort network, a malicious proxy service utilized by cybercriminals to conceal their identities while conducting fraudulent activities, including cryptocurrency account takeovers. The DOJ reported that the service compromised at least 369,000 routers and internet-connected devices across 163 countries, providing criminals with proxies to mask their IP addresses. Active since 2020, the platform facilitated crimes like bank fraud and cryptocurrency theft, with one victim in New York losing approximately $1 million in cryptocurrency. Law enforcement seized 34 domains, disrupted servers in seven countries, and froze around $3.5 million in cryptocurrency linked to the operation. SocksEscort received at least $5.7 million from its users, who paid anonymously with cryptocurrency. Europol emphasized the importance of international collaboration in exposing and shutting down cybercrime infrastructure.
(Source：Cointelegraph)