FinTelegram reported two days ago that the latest law enforcement action coordinated through Europol and Eurojust, led by the German team in Koblenz, targeted the operators of the LibraMarkets Cybercrime Network. As a result, 11 people were arrested, 5 in Spain, 5 in Bulgaria, and 1 in Israel. The perpetrators of this cybercrime network are German, Bulgarian, Swedish, Belgian, and Israeli nationals. Most of the scams were operated as a white-label solution of the Israeli PandaTS platform.
At the center of this LibraMarkets Cybercrime Network were the boiler rooms in Bulgaria around Mercure Group EOOD (formerly RAX Media EOOD) and ABC Global EOOD. The boiler rooms operated in Belgrade by Comunico88 handled the burned leads from LibraMarkets (see Comunico88 report here).
The cybercrime network is said to have operated many other major scam brands besides LibraMarkets, such as KayaFX, KontoFX, InstaFX24, NovaTrades, UProFX, ProuFX, EZCryptoPlace, or Tradorax. Most of these scam brands operated as white-label solutions of Maor Lahav‘s Israeli PandaTS.
Since 2017, law enforcement agencies in Spain, Germany, Sweden, Denmark, Austria, and other countries have investigated the LibraMarkets Cybercrime Network. The access was the first major success of these investigations.
Stay tuned, we’ll keep you posted!