Underground markets for stolen data as organized as real businesses

Cybercriminals can easily steal bulk data and quickly sell it online before moving onto the next target, it was recently confirmed at DefCon.

Published Mon, Aug 11 2014 3:46 PM CDT   |   Updated Tue, Nov 3 2020 12:15 PM CST

Criminals that compromise networks and steal large amounts of information are finding easier and more organized methods to quickly get rid of the data. Data dumps are one of the most popular products found on these underground forums, where buyers and sellers communicate in an organized fashion similar to an official business from the legitimate world.

Underground markets for stolen data as organized as real businesses | TweakTown.com

Many cybercriminal groups are trying to steal bulk data, such as the Target and eBay breach, looking to offload the information as quickly as possible. Using organized underground hacker forums, many based in Eastern Europe and China, they are able to sell and trade the data.

"When we think about the markets themselves they are organized in a unique fashion," said Tom Hold, Michigan State University associated professor specializing in cybercrime. "At the individual level, we're talking about a process where we're seeing peers and colleagues; at the formal forum level, we're seeing a more formal organization that takes place."

NEWS SOURCE:scmagazine.com

An experienced tech journalist and marketing specialist, Michael joins TweakTown looking to cover everything from consumer electronics to enterprise cloud technology. A former Staff Writer at DailyTech, Michael is now the West Coast News Editor and will contribute news stories on a daily basis. In addition to contributing here, Michael also runs his own tech blog, AlamedaTech.com, while he looks to remain busy in the tech world.

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