The FBI said that Sergey Sergeyvich Medvedev, a Russian citizen recently arrested in Bangkok, was the co-founder and second in command of the Infraud group - a notorious international corporation for cyber crimes.
It was reported that at the time of his arrest Mr. Medvedev had more than 100,000 bitcoins.
Prison in Thailand
Sergey Sergeyvich Medvedev is accused of being the co-founder and second command of the Infraud group. The deepweb market associated with the group was seized and unplugged by US authorities.
Prison in Thailand
Sergey Sergeyvich Medvedev is accused of being the co-founder and second command of the Infraud group. The deepweb market associated with the group was seized and unplugged by US authorities.
Mr Medvedev, a Russian national, fled to Thailand six years ago. The Thailand Crime Suppression Division (CSD) has identified the thirty-one-year-old subject located in Bangkok after an investigation at the request of the Americans in cooperation with the FBI.
Major Nathapol Ratanamongkolsak of the CSD stated that "the United States [...] requested assistance from the Thai police and the police commissioner ordered the Crime Suppression Division to work on this case by the end of 2017."
More than 100,000 Bitcoins
Medvedev was arrested in his apartment in Sukhumvit, led by 30 CSD officers. CSD officials seized documents and a notebook computer from Mr. Medvedev.
CSD investigators alleged that Mr. Medvedev was negotiating illegal products online in exchange for bitcoin. Thai media, Bangkok Post, reported that "judging by the evidence obtained during the February 2 incursion, [Mr. Medvedev] had more than 100,000 bitcoins" - worth about $ 800 to $ 900 million.
The head of Thailand's Central Research Agency (CIB), Thitiraj Nhongharnpitak, confirmed that the invasion occurred. However, the head of the CIB declined to give more details about the operation, saying that this is an international police issue and that more information will be released soon.
FBI x Infraud
Infraud was created in 2001 by Medvedev in partnership with Svyatoslav Bondarenko in Ukraine. Infraud was described as one of the major centers of credit card fraud, with Assistant Deputy Attorney General David Rybicki stating that the site was "the best store for cybercriminals around the world."
The reports indicated that similar operations aimed at imprisoning 18 Infraud members were held in more than a dozen different countries - expanding previous FBI efforts to attack Infraud, which has already seen the arrest of 32 people suspected of criminal involvement with Infraud. group.
Read Also: Why the Big Names of Finance Think Bitcoin is a Fraud - and Why Are They Wrong?
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