DeadLock ransomware leverages Polygon; Ukraine shuts down Money 24/7 fake crypto exchange network and more cybersecurity news

Weekly cybersecurity highlights.

Here are the week’s top cybersecurity stories.

• Ukraine dismantled the Money 24/7 fake crypto exchange network; more than 20 million hryvnias seized.
• FBI: hackers are mass-hacking accounts to steal intimate photos and for cyberbullying.
• Hackers from DEF CON launched a cyberattack on passengers of a Delta Air Lines flight.
• Chinese hackers combined government espionage with crypto fraud.

Ukraine shuts down Money 24/7 fake crypto exchange network; over 20 million hryvnias seized

Ukrainian law enforcement detained the organizer of the Money 24/7 fraud ring, which operated under the guise of a legitimate service for exchanging fiat currencies and crypto assets. The country’s cyber police reported the case.

How the scheme worked:

• illusion of reliability. To disarm suspicion, the perpetrators built polished websites, ran an active Telegram channel, officially registered a trademark, and opened a presentable office outfitted as a cashier’s desk;
• in-person scam. Clients submitted an online order to buy cryptocurrency, were invited to the office, and asked to hand over cash. The money was taken, but the cryptocurrency never reached clients’ wallets;
• psychological tactics. To delay police reports, the scammers stalled victims. Some received a small portion of the agreed crypto amount and “written guarantees” that the transaction would be completed soon.