The group bragged they could steal one-time passwords from Apply Pay and 30+ sites
A trio of men have pleaded guilty to running a multifactor authentication bypass ring in the UK, which authorities estimate has raked in millions in less than two years.to responsibility for running OTP.agency, an underground operation that provided cybercriminals with access to tools to help them socially engineer targets, bypass MFA, and ultimately steal money from victims' bank accounts, according to the UK's National Crime Agency .
It's not clear how much the trio may have nabbed between September 2019 and March 2021, when they were arrested and the site was taken offline, but the NCA estimates it could be up to £7.9 million . The group also claimed they could grab a one-time password"for any website," including Apple Pay and"30+ sites." Details of the technology underpinning the group's operation weren't shared, and it's still unclear if the trio had manufactured their own malware or simply cobbled together other as-a-service products to build their own derivative product.
Picari, Vijayanathan, and Siddeeque have pleaded guilty to charges of conspiracy to make and supply articles for use in fraud. Picari, flagged as the ringleader, developer and main beneficiary of the operation, was also charged with money laundering. Each faces up to 10 years in prison for the conspiracy charge, while Picari is also facing a maximum sentence of 14 years for money laundering.
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