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This presentation from Black Hat reveals how cybersecurity researchers uncovered a sophisticated financial fraud operation involving fake stock trading applications. Learn how fraudsters created convincing counterfeit brokerage programs that displayed real-time market data and professional charts while secretly capturing users' screens and stealing their investments. Discover how the investigation team analyzed 14TB of inadvertently exposed screen captures to map out the criminal network, including the developers who used generative AI to create the malicious software and the operators who managed over 100 domains and offshore servers to evade authorities. Follow the complete investigation process that ultimately led to the arrest of 32 individuals, including key technical personnel, who illegally profited ₩9 billion through this elaborate scheme. The speakers detail their methodology for identifying 125 related fraudulent investment programs and explain the tactics used by criminals to avoid returning victims' money.
