The U.S. Department of Justice (DOJ) has charged five men in connection with a phishing scheme targeting employees at various companies to steal cryptocurrency. The men, aged 20 to 25, allegedly used phishing text messages to harvest employee credentials, facilitating unauthorized access to victims’ crypto accounts amounting to millions of dollars. They face charges including conspiracy to commit wire fraud and aggravated identity theft, with possible maximum sentences of 20 years for fraud-related charges. The group, identified as ‘Scattered Spider’, is linked to high-profile hacking incidents with tactics involving social engineering and extortion. Officials warn of increasing sophistication in phishing attacks, leading to significant financial damages. The case reflects broader trends in crypto-related fraud, underscoring the necessity for vigilance against suspicious communications.

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