A British man, Zak Coyne, has been sentenced to eight-and-a-half years in prison for operating LabHost, a global phishing service. LabHost provided fraudulent versions of legitimate websites to cybercriminals, enabling them to deceive victims into sharing sensitive information. Coyne received $230,000 in cryptocurrency for his services, which were paid for using Bitcoin. The operation, used by criminals in 91 countries, resulted in losses exceeding $132 million worldwide. Coyne was apprehended in April 2024, leading to the shutdown of LabHost. Investigators recovered substantial evidence, with the Metropolitan Police calling it a significant operation. Judge Jenny Lester-Ashworth described LabHost as one of the most sophisticated fraud websites globally. Coyne, who pleaded guilty to three charges, was condemned for causing distress to numerous individuals and warned other potential offenders of the consequences. Read more AI-generated news on: https://app.chaingpt.org/news