Valerian Chiochiu, aged 30, pleaded guilty in a United States District Court last Friday for his role in the carding-centric organization known as Infraud. This plea came recently after the co-founder and main administrator for Infraud, Sergey Medvedev of Russia, pled guilty on June 26th. For over seven years, Chiochiu, Medvedev and wanted fugitive Svyatoslav Bondarenko of Ukraine operated racketeering schemes that totaled damages of over $560 million USD as part of the Infraud organization. According to the indictment, Chiochiu provided guidance to other Infraud members regarding fraud and carding. He also admitted to creating the malware strain “FastPOS” to steal payment card account data from Point of Sale (POS) systems.
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