Man Arrested in Thailand with $800M+ USD of Stolen Bitcoin

Bitcoin Thief

Bitcoin thief Sergey Sergeyevich Medvedev, a Russian national and co-founder of Infraud, has been arrested in Bangkok by the Federal Bureau of Investigation (FBI). At his time of arrest, the cybercrime expert had in his possession more than 100,000 Bitcoins. Infraud; a dark-web marketplace, was seized and taken offline by U.S authorities. The website was a one-stop-shop for cybercriminals.

Medvedev fled the country to Thailand six years ago but was arrested with the help of Thai authorities on Feb 2nd. Thailand’s Crime Suppression Division (CSD) raided Mr. Medvedev’s apartment with 30 officers and seized various documents and a laptop. The Bangkok Post reported, “judging by the evidence obtained during the Feb 2 raid, he had more than 100,000 Bitcoin.” At the time of the arrest, the stolen Bitcoin would be worth around $900 million USD.

There has yet to be any other information regarding the raid, as I’m sure they are still finalizing their investigation. However, more information has been promised to the public soon.

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Infraud crackdown

There have been 32 individuals arrested so far that are in connection with the group. This raid was held by the Department of Homeland Security and involves raids within 14 different countries. There are currently 18 more operations being led by the FBI that span in various different countries, all connected with Infraud. It seems that these cybercriminals while fleeing throughout the world, are unable to escape the law. 

That seems to be a common theme among crypto criminals. Just last year, Alexander Vinnik was arrested in vacationing with his family in Greece. It remains unknown if he was ‘hiding out’ but the US asked the police force in Greece to make the arrest. The U.S sought to obtain his arrest for $4 Billion USD worth of laundered Bitcoin through BTC-e. 

Wherever these criminals may roam, there isn’t a place in the world that the law can’t find you.

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Featured Image:  BitcoinMag

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