We have seen all sorts of hacks and ransomware attacks in the industry over the years and most of them have been quite devastating in nature disrupting industries as well as doing financial damage to people. However, did you ever think about the fact that what happens after these hacks take place?
Well, if you have not then we would like to tell you that stolen credentials and information from hacks is commonly sold on the dark web. However, that is not to say that it only gets sold on the dark web because we have a new report regarding the matter.
In a new incident that has come to the surface, a Russian hacker has been jailed for 9 years for reportedly running a credit card shop online where he was selling credit card details. The major problem here was that this guy was selling credit card information that was stolen during various hacks.
According to this guy’s confession, his online shop was named as Cardplanet where credit and debit cards were being sold for somewhere between $2.5 and $10 per card. It is also revealed that the online shop sold “roughly 150,000 payment card details between 2009 and 2013, most of which belonged to U.S. citizens and used to make over $20 million in fraudulent purchases”.
Now, this Russian hacker was not only running Cardplanet but he also ran an “invite-only forum website for elite cybercriminals where they advertised stolen personal identifying information (PII), malicious software, and other criminal services, like money laundering and hacking”.
This forum was even more dangerous because to get access inside the forum, you had to pay $5000 as insurance along with 3 existing members to vouch for you. It is reported that such a mechanism was put in place so that members who are part of the forum would not reveal details about the hacker and his activities to the outside world.