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US Federal authorities have busted the criminal ring responsible for the largest hacking and identity theft case in history. A 36-year-old Sydney man has been arrested by Australian Federal Police for his alleged involvement in an international music piracy ring. 24 Romanians believed to be part of an organised cybercrime ring were arrested during the past week. Recent arrests in the hacking of nine U.S. retailers and Countrywide Home Loans is just the tip of the iceberg of what's to come, according to experts in the security industry. Imagine you are sitting in front of your computer and all of a sudden you hear weird sounds coming from your hard drive. Spanish authorities charged a team of young hackers with infiltrating more than 20,000 web pages, including one belonging to NASA. Several members of an international phishing gang have been arrested by German police following a four-month investigation into the criminal syndicate. TJX's profits are starting to crumble under the weight of the massive data breach announced in January that placed about 45.7 million customers at risk for identity theft, according to a filing this week with the US Securities and Exchange Commission. In January 2003, "Bank of America" was the most prominent victim of the aggressive "Slammer" computer virus that Richard Clarke, the former top adviser to President George W. Bush on cybersecurity, simply called "a dumb worm".