After two years, the FBI finally closed the biggest cyber-crime investigation in US history.

U.S. officials said Wednesday that investigators established in Egypt and the United States finally wrapped up the "biggest cyber-crime investigation in US history," taking down a rather clever computer "phishing" identity theft scam. The FBI said that 33 people were arrested throughout the U.S., with an additional 47 suspects charged in Egypt. An additional 53 suspects were also named in in a federal grand jury indictment.

Called "Operation Phish Phry," the two-year investigation ended in a series of raids earlier today, resulting in arrests in California, Nevada, and North Carolina. According to the AFP, a 5-count U.S. indictment accuses all defendants with conspiracy to commit wire fraud and bank fraud. Various defendants are charged with aggravated identity theft and conspiracy to commit computer fraud.

"The sophistication with which Phish Phry defendants operated represents an evolving and troubling paradigm in the way identity theft is now committed," FBI Los Angeles acting assistant director Keith Bolcar said. "Criminally savvy groups recruit here and abroad to pool tactics and skills necessary to commit organized theft facilitated by the computer, including hacking, fraud and identity theft, with a common greed and shared willingness to victimize Americans."

Official said that the phishing ring consisted of hackers residing in Egypt. By using phishing schemes, the hackers acquired bank account numbers and customer personal information, and then hacked into two unidentified banks to set up fake accounts. The hackers thus sent the info to conspirators based in the U.S. by way of phone calls, text messaging, and Internet chatrooms "to arrange transfer of cash to fraudulent accounts."