The online world is changing fast. Every week, new scams, hacks, and tricks show how easy it’s become to turn everyday technology into a weapon. Tools made to help us work, connect, and stay safe are now being used to steal, spy, and deceive.
Hackers don’t always break systems anymore — they use them. They hide inside trusted apps, copy real websites, and trick people into giving up control without even knowing it. It’s no longer just about stealing data — it’s about power, money, and control over how people live and communicate.
This week’s ThreatsDay issue looks at how that battle is unfolding — where criminals are getting smarter, where defenses are failing, and what that means for anyone living in a connected world.
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Crypto empire built on slavery
The U.S. government has seized $15 billion (approximately 127,271 bitcoin) worth of cryptocurrency assets from one of the world’s largest operators of forced-labor scam compounds across Cambodia, Myanmar, and Laos, which are known to conduct romance baiting (aka pig butchering or Shā Zhū Pán) schemes to defraud victims under the pretext of increased returns. The perpetrators, operating from the scam compounds under the threat of violence, often built relationships with their victims over time, earning their trust before stealing their funds. The Department of Justice (DoJ) unsealed an indictment against the Prince Group and its 38-year-old CEO, Chen Zhi (aka Vincent). “Individuals held against their will in the compounds engaged in cryptocurrency investment fraud schemes, known as ‘pig butchering’ scams, that stole billions of dollars from victims in the United States and around the world,” the DoJ said. “Trafficked workers were confined in prison-like compounds and forced to carry out online scams on an industrial scale, preying on thousands worldwide.” Zhi, the alleged kingpin behind the sprawling cybercrime empire, is at large. The department also said the seized funds represent “proceeds and instrumentalities of the defendant’s fraud and money laundering schemes” and were stored in unhosted cryptocurrency wallets whose private keys the defendant had in his possession. The compounds operated out of casinos and luxury hotels owned by the Group. Some of the stolen proceeds were spent on luxury goods, including yachts, private jets, art, and even a Picasso painting. In tandem, the U.S. and the U.K. designated Prince Group as a transnational criminal organization and announced sanctions against the defendant. Other proxy organizations targeted by the sanctions include Jin Bei Group, Golden Fortune Resorts World, and Byex Exchange. Elliptic said the $15 billion seized by the U.S. were “stolen” in 2020 from LuBian, a bitcoin mining business with operations in China and Iran. LuBian, per the blockchain analytics company, was one of the ostensibly legal business enterprises overseen by Prince Group. “Pig butchering has…
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