Million Credit Cards on The Dark Web Courtesy of Russian Hackers
Russian hackers released almost 1 million credit cards numbers on the dark web. Analysts at cybersecurity firm Q6 believe that the group of cybercriminals calls itself All World Cards. According to a report by CNBC, these hackers sell the information on the million credit cards to other criminals.
Banks issued the stolen credit cards in the 2018-2019 period, and 20% of the cards are still active. Eamon Javers, a correspondent for cybersecurity Q6, posted the issue on Twitter. Javers says that the group, All World Cards, gave free accounts to other crooks as an introductory offer.
Furthermore, Javers wrote that "One million stolen credit cards is a large number - even for the Dark Web where large amounts of stolen credit card information have been available for sale for years. Criminals will likely use these cards in coming days, so banks should see an impact soon."
A Growing Black Market Network on the dark web
The internet has three tires. These tires include the surface web, deep web and dark web. You require a unique browser such as Tor to access the dark web.
The Tor network lies on the margins of the internet and acts as a bridge to the dark web. The dark web consists of encrypted sites that a typical browser can't access. Moreover, these sites are not indexed by search engines such as Google.
The dark web is a part of the internet that gives maximum protection and privacy to its users. Therefore, it protects the users from government surveillance. Additionally, the dark web provides a marketplace for criminal activities. A black market is a place where people trade stolen identities, drugs and other illegal products and services.
To ensure user anonymity, the dark web marketplace uses cryptocurrency for the payment of goods and services. Therefore, law enforcement needs to collaborate with financial institutes and regulators to curb illegal trade in the marketplace.
Even if you have not been to the darknet, your credit card information has probably been there. The black market has forums where cybercriminals communicate. Through these forums, they share information on stealing card information and hacking websites. Darknet marketplaces offering card details are prolific and draw in a fortune.
How Did the Stolen Million Credit Cards End Up in The Dark Web Marketplace?
There are several ways through which hackers gain access to credit card details. At times, they carry out card-present fraud. Cybercriminals do this by hacking the point of sale at a store. Moreover, they can carry out a card-not-present-fraud. Here, the criminals breach a website and retrieve the online card data keyed in at the checkout page.
After retrieving the credit card data, the hackers post them for sale on the dark web marketplace. Previous reports show that credit card information is averagely sold for $15 to U.S. residents. Non-US residents can buy the information for at least $30. When sold in bulk, the hackers gain a fortune.
How To Protect Your Credit from Fraudsters
There is a slim chance that your credit card details are a part of the released data. But, you should be aware of the ways of protecting your card details from criminals.
Firstly, you can protect your data by freezing your credit report to restricts outside access to your file. So, the fraudster can't use your card details to establish credit or get loans. Freezing your account prevents the lender from approving loan and credit applications.
Additionally, you can activate a short-term fraud alert. Through the alerts, the potential lender has to contact you to verify the loan request.
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