Authorities in the United States and Europe have dismantled SocksEscort, a cybercrime network that enabled criminals to hide their identities while conducting fraud, including cryptocurrency account takeovers.
Law enforcement agencies seized 34 internet domains, disrupted more than 20 servers located across several countries, and froze approximately $3.5 million in cryptocurrency linked to the operation.
Investigators said the network compromised at least 369,000 routers and internet-connected devices worldwide, allowing cybercriminals to route their online activity through a massive proxy network.
The platform reportedly facilitated various crimes since 2020, including bank fraud, identity theft, and digital asset theft. In one documented case, a victim in New York lost nearly $1 million worth of cryptocurrency.
The international investigation involved multiple agencies from Europe and the United States, highlighting increasing cooperation among governments to combat global cybercrime networks tied to digital assets.
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