Young Perth hackers key players in global cybercrime syndicate, says FBI

Two Perth hackers charged after major AFP, FBI investigation into alleged global cybercrime Two young Western Australians have been charged for their alleged role in a "sophisticated cybercrime syndicate" that allegedly created malicious software to rob hundreds of global businesses. Louis Michael Gaebler, 23, and Ruben Ian Thomson, 21, were arrested in Perth following a joint investigation with federal and state police working alongside the US Federal Bureau of Investigation (FBI). They faced court today charged with a combined 14 offences after police raided properties in Cottesloe, Hamilton Hill and Mandurah where electronic devices and other items were seized. Police allege the men were part of a highly organised syndicate involved in large-scale cybercrimes, including data intrusion, identity crime and cryptocurrency-based money laundering. Investigations began in April after the Australian Federal Police and the FBI received tip offs about a syndicate that allegedly inserted malicious code into open source software available online which was then unwittingly used by other developers. The term 'open source' refers to content that developers can modify and share because its design is publicly accessible. Hackers allegedly paid crypto Police will allege the infected software made its way into computer systems at across government, academic and private sector institutions, potentially compromising more than 1,000 organisations globally. The software allegedly enabled the syndicate to infiltrate those organisations to steal or harvest sensitive data, including more than 500,000 user credentials and authentication materials. The financial impacts include remediation costs estimated to be in the hundreds of millions of dollars. Police allege the WA men were key participants in the activities of the cybercrime syndicate and received payments in cryptocurrency for their roles, the value of which is still under investigation. Louis Gaebler's lawyer made no application for bail and his client was remanded in custody for his next appearance on September 18.. Ruben Thomson's lawyer flagged a bail application although it was uncertain when this might occur. Police say there may be more arrests as investigations continue.