Binance Helps Catch Phishing Scammers

Samuel Lim, Chief Compliance Officer at cryptocurrency exchange Binance, said thathis company assisted the England Metropolitan Police Service in capturing a Bulgarian citizen who was convicted of developing and trading phishing scripts.

Using scripts, attackers capturedpersonal information of users of 53 Internet platforms for theft of financial assets and the subsequent sale of data on the dark. The number of victims reached 500,000, the criminals managed to earn over $ 51 million. Most people became victims of fraud by clicking on phishing links from emails.

The creator of hacker tools turned out to be37-year-old native of the city of Pleven Svyatoslav Donchev. He was extradited from Bulgaria to England and appeared before the London Royal District Court of Southwark. Donchev pleaded guilty to five episodes of fraud. According to investigators, Svyatoslav integrated scripts into clone sites of legitimate companies. Prosecutor Sarah Jennigs stated that the defendant was not involved in identity theft, but provided software to other criminals. In addition, Donchev developed software to counteract the detection of clone sites so that automated systems could not identify fraudulent resources. Svyatoslav received 1.5257417 Bitcoin for his work.

The court found Donchev guilty and sentenced him to 4years and 6 months of imprisonment. He can be released according to parole, after serving 3 years. Samuel Lim said that the cooperation of commercial enterprises with law enforcement agencies plays an important role in creating a safe environment in the crypto industry.