Five Arrested in Connection with $6.3 Million Crypto Hacking Plot

Five individuals have been charged by the U.S. Department of Justice (DOJ) in connection with a cybercrime operation that allegedly resulted in the theft of $6.3 million worth of cryptocurrency and unauthorized access to confidential corporate data.

The charges, announced this week, are linked to a phishing and hacking scheme that spanned several years, targeting employees at prominent tech companies, telecom firms, and cryptocurrency exchanges.

The DOJ identified the accused as Ahmed Hossam Eldin Elbadawy, Noah Michael Urban, Evans Onyeaka Osiebo, Joel Martin Evans, and Tyler Robert Buchanan. All five, who are between 20 and 25 years old, face charges including conspiracy to commit wire fraud, aggravated identity theft, and other related crimes.

Prosecutors claim the group used phishing attacks to steal login credentials from employees, allowing them to gain unauthorized access to corporate networks and cryptocurrency wallets. Buchanan also faces additional wire fraud charges, which could carry up to 20 years in prison.

The scheme is said to have affected at least 45 companies across the U.S., Canada, the UK, and several other countries between September 2021 and April 2023. Hackers are alleged to have mimicked legitimate company portals, such as Okta, and bypassed two-factor authentication to steal sensitive data.