Authorities in Spain have dismantled a cyber fraud network linked to the notorious Black Axe group, arresting 34 suspects involved in man-in-the-middle scams such as Business Email Compromise. The operation uncovered extensive money laundering activities and highlighted the global reach of Black Axe’s cybercrime operations. #BlackAxe #BusinessEmailCompromise
Keypoints
- The Spanish authorities arrested 34 individuals connected to a cybercrime network linked to Black Axe.
- The group specialized in man-in-the-middle scams, mainly Business Email Compromise (BEC).
- Investigators seized €66,400 in cash, electronic devices, and froze €119,350 in bank accounts.
- The cybercriminals caused over $6 million in damages over 15 years, with $3.5 million linked to this operation.
- Four suspects are in pretrial detention, facing charges of fraud, money laundering, and organized crime involvement.