Black Axe network dismantled in major international law enforcement operation

As outlined in HackRead, international law enforcement agencies have successfully disrupted a significant criminal network known as Black Axe. This operation, a coordinated effort led by Spanish and German authorities with support from Europol, resulted in the arrest of 34 individuals across Spain, primarily in Seville, Madrid, Málaga, and Barcelona.

Black Axe, originating in Nigeria, is a vast organization with an estimated 30,000 members globally, notorious for crimes including human trafficking and armed robbery, but particularly for sophisticated online fraud. Their methods include romance scams, phishing, and business email compromise (BEC) attacks, which trick victims into transferring funds. In Spain, the group targeted vulnerable individuals in economically depressed areas, recruiting them as money mules to launder illicit proceeds. This specific operation uncovered nearly €6 million (about $7 million) in losses, with authorities freezing over €119,000 (~$139,000) in bank accounts and seizing more than €66,000 (~$77,000) in cash.

While this operation has significantly disrupted Black Axe's European activities, the full extent of the organization remains active in numerous countries. 

Source: HackRead