Five key members accused of being behind the Zeus/SpyEye malware attacks have been arrested by Europol.

Europol stated that the individuals had been picked up in four cities in Ukraine on the 18th and 19th of June. The figures for arrests of individuals connected to this malware stands at 26, with a further 34 arrested and deemed to be low-level money mules.

The organisation has labelled the five arrested as being "high level", signifying that they may have caught people which were involved with the development, distribution and targeting of ATM’s.

It is also believed that these people may have been involved in the trading of stolen credentials.

Rob Wainwright, Europol director, said: "In one of the most significant operations coordinated by the agency in recent years Europol worked with an international team of investigators to bring down a very destructive cybercriminal group."

Europol estimated that this family of malware had done at least 2 million Euros worth of damage, although it has been suggested that this number is much greater.

The malware has been used to attack online bank account over the past five years, and the original creator of SpyEye, Aleksandr Andreevich Panin, was arrested 18 months ago by the FBI.