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[k1976]

Singapore Wealth Flows Face New Scrutiny in Superhacker Case​

• Alleged mastermind Wang YunHe arrested in Singapore on May 24
• City-state faces challenges from push to attract ultra-rich

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Politics

Singapore Wealth Flows Face New Scrutiny in Superhacker Case​

• Alleged mastermind Wang YunHe arrested in Singapore on May 24
• City-state faces challenges from push to attract ultra-rich

Wang YunHe’s residence in Singapore, overlooking the country’s premier shopping belt.Photographer: Low De Wei/Bloomberg
By Bernadette Toh, Low De Wei, and Ambereen Choudhury
May 31, 2024 at 2:07 PM GMT+8
Updated on
May 31, 2024 at 3:21 PM GMT+8

Before he was arrested this month for allegedly running what’s likely the world’s largest cybercrime computer network, Wang YunHe enjoyed a lavish lifestyle in Singapore.


He held a bank account in the city-state, was a director of several local companies and lived in a multi-million-dollar apartment overlooking a premier shopping district, according to an indictment and local filings.

All the while, the 35-year-old Chinese national was amassing riches by offering cybercriminals access to millions of infected devices for a fee, the US Justice Department said.
https://www.bloomberg.com/tips/

 

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The case is putting a fresh spotlight on the challenges of policing the influx of foreign wealth into Singapore, less than a year after 10 people of Chinese origin were charged in the nation’s biggest money-laundering scandal.


While Wang is accused of a different set of crimes to the remote-gambling ring that was taken down last year, the alleged modus operandi is similar. He set up companies in Singapore that had local citizens serving as directors or corporate secretaries.

Besides properties accumulated in the city state, Thailand, Dubai and the US, authorities are also seeking to seize cryptocurrency, watches and luxury cars.

 

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The revelations are a reminder of the difficult balancing act faced by Singapore and other financial hubs as they push to attract the world’s ultra rich.

That drive has helped turn Singapore into a premier wealth management centre, yet it has also been accompanied by a string of scandals in recent years – along with vows from authorities to step up oversight.


Wang was arrested in Singapore at his home on May 24. He is charged among other things with conspiracy to commit wire fraud and money laundering, according to the DOJ. If convicted on all counts, Wang faces a maximum penalty of 65 years in prison.

 

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The charges against Wang are for allegedly deploying malware, and creating and operating a residential proxy service known as “911 S5”, a botnet that facilitated cyberattacks, large-scale fraud, child exploitation, harassment, bomb threats, and export violations, according to the DOJ.

The Singapore police and attorney general’s chambers have been working with the DOJ and Federal Bureau of Investigation since August 2022, according to a statement from the city state’s police. The police launched an operation to arrest Wang, following an extradition request from the US. The multi-agency effort also included law enforcement in Thailand and Germany, according to the DOJ.

 

[k1976]

https://www.google.com/amp/s/amp.sc...-largest-botnet-major-blow-cybercrime-experts

Why the Singapore arrest of alleged botnet king Wang Yunhe is a major blow to cybercrime​

• Authorities say Wang ran the “911 S5” botnet, a network of malware-infected computers spread across nearly 200 countries
• Cybersecurity experts say his recent arrest in Singapore will deal serious damage to the criminals that used his botnet for child exploitation and financial fraud

 

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The arrest in Singapore of 35-year-old Chinese national Wang Yunhe, who officials said ran a massive botnet for nearly a decade, was a major bust that cybersecurity experts say will cause serious damage to other criminal enterprises.

“Bringing down a botnet is a big thing, it means cutting off access to other cybercriminals who would have used this network of zombie residential computers for nefarious purposes,” said David Siah, the executive vice-president for Southeast Asia-Australia at the Centre of Strategic Cyberspace & International Studies think tank.

 

[k1976]

Paging for Boss John...please cum and share more insider details

 

[k1976]

https://www.google.com/amp/s/www.da...mp/YunHe-Wang-911S5-arrest-china-malware.html


The FBI along with numerous other government agencies have brought down the biggest botnet farm in the world and arrested its ringleader, the Department of Justice said in a statement Wednesday.

Yunhe Wang, 35, is accused of running 911 S5, which infected around 19 million computers worldwide and over 600,000 in the US alone. The scam began in 2018 and lasted until 2022.

Wang would then sell access to those infected computers to criminals who then used it for crimes as vile as child exploitation as well as identity theft and fraud, making around $99 million in the process officials said.

 

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Among the toys that Wang bought with his illicit gains included a a 2022 Ferrari F8 Spider S-A, a BMW i8, a BMW X7 M50d and a Rolls Royce, all of which have been seized by the US government.

That's in addition to $30 million worth of properties in the Caribbean, US, Middle East and East Asia that were also seized.

A US Commerce Department official, Matthew Axelrod, told CNN that Wang's alleged crimes and lavish lifestyle: 'Reads like a screenplay.'

Wang was arrested in Singapore, and search warrants were executed there and in Thailand, the FBI´s deputy assistant director for cyber operations, Brett Leatherman, said in a LinkedIn post.

Authorities also seized $29 million in cryptocurrency, Leatherman said.

In 2022, 911 S5 was outed as a botnet and repackaged as CloudRouter, officials said.

The suspect is awaiting extradition from Singapore to the US where he could face up to 65 years in prison on charges of conspiracy to commit computer fraud, substantive computer fraud, conspiracy to commit wire fraud and conspiracy to commit money laundering.

 

[k1976]

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