Shenchao TechFlow news: On July 02, according to Financefeeds, the U.S. Department of Justice announced criminal charges against Peter Stokes, a 19-year-old dual national of the U.S. and Ireland. He is alleged to be a member of the cybercrime organization “Scattered Spider,” and has been extradited from Finland to the United States.

Prosecutors say the group is suspected of carrying out more than 100 cyber intrusions, obtaining over $100 million in cryptocurrency ransom, and causing losses of millions of dollars, including business disruption, forensic investigation, and remediation. The case is viewed as an important law enforcement development in the U.S. crackdown on cross-border cyber extortion and cryptocurrency-related crimes.