Underage hackers arrested in Paris for hiding stolen goods using cryptocurrencies

A cybercrime network specializing in banking data theft was dismantled on March 28−29, Paris police said on Friday. The criminal organization was headed by a 17-year-old boy from Toulouse who was engaged in mining.

The information was confirmed to Figaro by a source in the police and investigative authorities of the French capital. The detainees specialized in phishing scams.

This method involves, for example, impersonating a bank and then stealing personal information and reselling it later.

«The fraudsters are very good at the sector they claim to belong to,» explains a police source, «This technique can catch anyone off guard, regardless of their intellectual profile.»

Once the credit card credentials were in their possession, the cybercriminals exchanged them for cryptocurrency on online platforms.

The criminal traffic brought the criminals about € 600,000 in less than a year.