India Repatriates 250 From Cambodia Amid $100M Crypto Scam Crisis
April 1, 2024The Indian government has successfully rescued and repatriated 250 of its citizens from Cambodia who were victims of forced 'cyber slavery'.
An estimated 5,000 Indians were compelled by criminal networks to conduct cyber scams targeting individuals in India.
Scammers used fake identities to deceive victims into investing in nonexistent cryptocurrency ventures, leading to significant financial losses.
One criminal group's crypto wallets saw inflows nearing $100 million, which included ransom payments for the release of trafficked individuals.
Cybercriminals are exploiting the CREATE2 function in Ethereum to execute unauthorized transactions and siphon off funds.
Similar incidents have been reported in other Southeast Asian countries, such as the Philippines and Myanmar, indicating a regional pattern of cyber exploitation.
The growing issue has raised alarm and prompted increased efforts to combat the trend and safeguard vulnerable populations.
Summary based on 3 sources
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Sources
BBC News • Apr 1, 2024
Cambodia: Hundreds of Indians rescued from cyber-scam factoriesYahoo News • Apr 1, 2024
Cambodia: India rescues citizens forced to run online scamsThe Hacker News • Apr 1, 2024
Indian Government Rescues 250 Citizens Forced into Cybercrime in Cambodia