Overview

• U.S. prosecutors have charged five individuals, aged 20 to 25, for their alleged roles in the 'Scattered Spider' cybercrime group, which targeted employees of tech, gaming, and cryptocurrency companies.
• The group allegedly conducted phishing attacks from September 2021 to April 2023, sending fraudulent text messages to employees to steal login credentials and two-factor authentication codes.
• Using the stolen credentials, the hackers reportedly accessed corporate systems to exfiltrate sensitive data and steal millions of dollars from cryptocurrency wallets.
• Notable incidents tied to 'Scattered Spider' include the 2023 ransomware attacks on MGM Resorts and Caesars Entertainment, resulting in significant operational disruptions and a $15 million ransom payment by Caesars.
• The accused face charges including conspiracy to commit wire fraud, aggravated identity theft, and wire fraud, carrying potential sentences of up to 20 years in prison per charge.