Bulgarian National Admits Role in Notorious Online Marketplace for Identity Theft

A Major Cybercrime Bust: Shadowcrew Forum

Aleksi Kolarov, a 31-year-old Bulgarian national, has pleaded guilty to participating in the Shadowcrew forum, an online marketplace notorious for hacking and identity theft. The illegal platform caused financial losses of over BGN 8 million (approximately USD 4.2 million) to institutions issuing credit cards.

The Forum’s Illicit Activities

Shadowcrew.com was a hub for criminal activity, trafficking in at least 1.5 million stolen credit and bank card numbers. Kolarov, along with 18 other individuals charged in the indictment, participated in the international conspiracy to operate the site. As a vendor on the platform, he sold illicit merchandise and services to other members.

The Arrest and Prosecution

Kolarov was arrested on June 14, 2011, by Paraguayan law enforcement authorities at a hotel in Asunción, Paraguay. At the time of his arrest, he was found with hundreds of thousands of dollars in various currencies, counterfeit payment cards, and electronic implements to re-encode cards.

Kolarov has pleaded guilty to a count punishable by a maximum potential penalty of five years in prison and a fine of BGN 500,000 (approximately USD 250,000), or twice the gross amount of pecuniary gain or loss resulting from the offense. Sentencing is scheduled for May 28, 2014.

International Cooperation in Combatting Cybercrime

The case highlights the importance of international cooperation in combating cybercrime. The government has thanked the Bulgarian authorities for their role in bringing Kolarov to justice and praised Paraguayan authorities for their vital role in his arrest.

A Success Story for Law Enforcement Agencies

Kolarov’s arrest demonstrates the commitment of Bulgarian law enforcement agencies to protect the country’s financial infrastructure from cybercrime. The successful apprehension of suspects is due to the efforts of special agents and participating members of electronic crimes task forces, including federal, state, and local law enforcement agencies, private industry, and academia.

Conclusion

The Shadowcrew forum was a significant online marketplace for hacking and identity theft, causing financial losses on a massive scale. Kolarov’s guilty plea marks a major success in the fight against cybercrime, demonstrating the importance of international cooperation and the commitment of law enforcement agencies to protect their countries’ financial infrastructure.