Data theft is a big problem, but how much does it really cost?

Malicious actors often look for ways to steal private financial information because it’s the kind of thing that can help them make a profit when they sell that information to the highest bidder. 

This kind of data cannot be sold through normal channels, so these malicious actors usually turn to the dark web, where their illegal activities are more difficult to detect and investigate.
Criminals often use the dark web to obtain illegally obtained private information, such as credit card information, bank account information, and the like. 

One would expect the exchange rate for this information to be quite high, but despite that, you can get all of a person’s personal information for just over $1,100, or $1,115 to be exact. This information is so comprehensive that it can be used to forge a false identity under the victim’s name, after all things are considered.

With all of this said, it is important to note that credit card information is sold very differently on the dark web. Credit card information with access to an account worth up to $5,000 is sold for $120, which is shockingly low considering the potential profits it could bring to criminals.

These credit cards are the most expensive to purchase on the dark web, and many card details can be purchased for as little as $10, including logging into a Walmart account with credit card information. On the dark web, a hacked Gmail account costs $65 and a hacked Facebook account costs $45and Instagram are both $40

This just goes to show how widespread financial data theft is. Malicious actors can profit even if they sell this data at a heavily discounted price, indicating that they probably have a lot of data that they can start distributing. This does not bode well for the future of financial data security for the average user.

dark web


Prices drop as the data store matures.

Over the past year, the dark web data market has grown in volume and product variety. You might think that as supply increased, most prices fell.

Here’s an overview of the dark web data market by the numbers:

Sales Volume: Over the past year, the number of products for sale has increased a lot. All of the more than 9,000 sellers who sold fake IDs and credit cards reported completing several thousand transactions over the past year.

Amount of information: More fake credit card details, personal information, and documents were sold this year (2021) than in 2020.
Different products: The product range has grown to include things like hacking crypto accounts and online services like Uber.
Major operational changes:
As the dark web market matures, the people who run it are adopting functions and priorities similar to those of traditional marketing and retail methods.
In the reporting period 2021–2022, important changes occurred in the activities of the Dark Web. By October 2021, shoppers were using better-known websites that offered more security features and emphasized customer service. The White House Market was the clear leader as an active place for this system, with about a third of the 9,000 active sellers in the market.

In October, the administrators of the site announced, with little explanation, that they were shutting down the site, which was shut down shortly after the announcement. While other sites, notably ToRReZ and the reformed AlphaBay, have moved in to fill the gap, it is impossible to identify a long-term market leader dark web protection features. The Dark Web may have gotten more secure and powerful, but legal experts have gotten smarter. 

To avoid detection and tracking by the police, dark web sites are now using more and more sophisticated security measures for dark web transactions.
Last year, the cryptocurrency Monero replaced Bitcoin as a means of payment, and pretty good PGP encryption methods ruled the day. These security tools are still in control parallel markets and services. Today, dark Web sites compete on their security and customer service. So it’s no surprise that they now also use traditional marketing tactics. Discounts (buy two clone credit cards, get one free), coupons, and product reviews are becoming common sights on the most competitive websites.

Source: Privacy Affairs

Get more news and insights about Global Technology Industry here

Corpradar is a next-gen digital IR 4.0 corporate media house that combines the power of technology with human capital to bring decisive and insight-driven content on key business affairs. In an absolute sense, we create a space for leading business houses and visionary corporate leaders to chime in with their opinions and thoughts on relevant industry-specific matters that provide a detailed expert perspective for our followers.