Hong Kong authorities have arrested six individuals suspected of launching distributed denial-of-service (DDOS) attacks against various companies involved in gold and silver securities trading, including the Chinese Gold & Silver Exchange Society.
The alleged cybercriminals, located in areas such as Hunan, Hubei and Shanghai, blackmailed at least 16 companies and attacked the websites of those that refused to pay up amounts ranging from $4,700 (3,750 EUR) to $15,000 (12,000 EUR), The Standard reports
The crooks managed to earn around $72,000 (57,500 EUR), more than half of which from just 4 companies.
On the other hand, it’s believed that some of the blackmailed organizations have been involved in illegal activities, which is why they've accepted to pay, instead of alerting authorities.
While Hong Kong police urges firms to contact them in case they receive any threats, local Internet crime experts believe that many companies are willing to pay small sums to ensure that their websites, and implicitly their businesses, will not suffer.