Thai Police Arrest 4 Russians Over Cyberattacks on Swiss Firms
Thai police have arrested four Russian nationals suspected of using ransomware to attack Swiss companies.
According to local media, the arrests took place in Phuket, a popular tourist destination, where special operations teams and immigration police conducted a series of thorough searches across various locations in the region.
During the operation, authorities seized over 40 pieces of electronic equipment, including laptops, smartphones, and digital wallets, which may contain key evidence of criminal activity.
Related: Russian Gang Kidnaps and Robs Ukrainian Crypto Investor
According to vx-underground on X, the operation, codenamed Phobos Aetor, was carried out on February 10 as part of a global law enforcement effort. The investigation involved agencies from the United States, Switzerland, EUROPOL, and the Royal Thai Police.
The arrested individuals have been charged with conspiracy to commit a crime against the U.S. and conspiracy to commit wire fraud, highlighting the international scale of the operation.
The suspects are accused of using Phobos ransomware to target 17 Swiss companies between April 2023 and October 2024. By encrypting company data and demanding cryptocurrency ransoms, they inflicted significant financial losses on businesses and crypto asset holders.
Related: Ransomware’s Record-Setting Year
According to reports, the group's activities affected more than 1,000 victims worldwide, with total damages estimated at $16 million in Bitcoin.
The Swiss government has formally requested Thailand to extradite the arrested individuals, so they can face multiple cybercrime charges.
This case highlights the increasing global threat of cyberattacks and the importance of international collaboration in dismantling criminal networks that exploit cutting-edge technology to abuse financial systems.
It also reinforces the reality that modern cybercriminals operate across borders, with networks stretching far beyond individual regions to entire continents. Tackling these threats effectively requires coordinated efforts from law enforcement agencies worldwide.
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