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Thursday, April 11, 2024

Technical Guru of FIN7, Fedir Hladyr sentenced to 10 Years in Prison

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Fedir Hladyr, a Ukrainian man in his mid-30s and a FIN7 member, was sentenced to 10 years in prison. A daunting multibillion-dollar cybercrime group of the last decade, FIN7 breached hundreds of firms and siphoned off millions of credit card numbers from restaurants as well as hospitality chains in 47 U.S. states. FIN7 disguised much of its criminal activity behind a front company, Combi Security.

Reason for Imprisonment

Fedir Hladyr was an administrator of FIN7 and a big reason that the company operated like a well-oiled multinational corporation. He described himself as a “Technical Guru” and was one of the elites among the pool of talented hackers employed by the company. 

The 10-year sentence includes the three years that have already been spent in detention by Hladyr since his arrest, along with $2.5 million in restitution that is to be distributed to victims.

When he was arrested?

Hladyr’s was arrested in Germany in January 2018 and later accepted responsibility for his crimes. It was asserted in the hearing that Hladyr used to control an instant messaging service. This messaging service was used by the company to upload the stolen payment card data and screenshots hacked from financial firms. He is also alleged to organize FIN7’s work via project-tracking software that was responsible for managing all the stolen financial credentials.

The federal prosecutor argued that Hladyr’s technical skills were an integral aspect that made this company a looming threat to U.S. businesses. And sentencing him to 10 years of prison would “send a strong message of public deterrence” to the persistent menace of cybercrime. Whereas, despite his prosecution, and the arrest of other members of FIN7, the group has continued to steal from businesses. Nonetheless, this prosecution is being viewed as a huge win in the quest of making a dent in the well-funded cybercrime groups that target U.S. businesses from Eastern Europe.

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