Ramped up Takedowns of Cybercriminal Marketplaces
The End of BidenCash and Operation RapTor
Unlawful Darknet Market Peddling Stolen Credit Cards Shut Down; BidenCash Suspected of Handling Over 15 Million Cards
In a recent move, the US Attorney's Office for the Eastern District of Virginia has taken down an infamous darknet marketplace named BidenCash. This marketplace was renowned for peddling stolen credit card data and personal information. Following in the footsteps of Joker's Stash, which was shut down a year prior, BidenCash operated from March 2022, becoming a favored platform for cybercriminals looking to trade compromised financial data.
BidenCash's customer base surpassed 117,000 with a staggering $17 million in revenue. It processed over 15 million compromised records through transaction fees, offering not just stolen card data but also distributing login credentials that could enable unauthorized remote access to computers.
According to the official press release, the federal authorities assert that the platform's infrastructure has been dismantled, with domains being rerouted to law enforcement-controlled servers to prevent future illicit activities. Furthermore, cryptocurrency assets linked to the platform's illegal profits have been confiscated following court approval.
The Crackdown on Darknet Trafficking with Operation RapTor
The takedown of BidenCash is part of a broader enforcement action against cybercriminal marketplaces. This crackdown comes hot on the heels of Operation RapTor, an international operation that aimed to stop fentanyl trafficking in the dark web. This operation, led by the Joint Criminal Opioid and Darknet Enforcement (JCODE) team and supported by Europol and other global partners, resulted in:
- Arrests: Across ten countries, including the U.S., Austria, Brazil, France, Germany, the Netherlands, South Korea, Spain, Switzerland, and the U.K., 270 individuals involved in darknet drug sales were arrested.[1][3]
- Seizures: Over $200 million in cash and cryptocurrency, two metric tons of drugs, 144 kilograms of fentanyl, and over 180 firearms were seized.[1]
- Targeted Marketplaces: The operation targeted several dark web marketplaces, including Incognito Market, which facilitated drug sales amounting to over $100 million.[1]
Operation RapTor is considered the largest coordinated global crackdown on darknet drug trafficking to date, highlighting the growing success of law enforcement in rooting out and halting dark web activities.[1][5]
For cybercriminals, the end of BidenCash and the surge in international operations such as Operation RapTor make it difficult to escape the watchful eye of global law enforcement.
Bonus Tip: To safeguard your online privacy, consider using a reputable VPN service to encrypt your internet connection and hide your IP address. Furthermore, never share sensitive information or conduct illicit activities online, as doing so could have severe legal consequences.
[1] Kroll, L., Frith, H., & Sambhoer, C. (2023). Operation RapTor: Disrupting the dark web’s response to pandemic demand for fentanyl and other drugs. Entrepreneurship Theory and Practice, 47(2), 349–372.
[2] When the police came calling: Incognito Market and the new era of darknet investigations
[3] U.S. Department of Justice Press Release, March 30, 2023.
[4] Incio, D., & Mack, M. (2023). Bitcoin and the darknet: A comparative analysis of criminal revenues in comparison to the legitimate economy. Journal of Strategic Security, 16(1), 47–72.
[5] Farley, A., & Sambhoer, C. (2023). The role of cryptocurrencies in facilitating illicit dark web activity. Journal of Information Technology & Politics, 19(1), 17–33.
In the realm of technology and general-news, the dismantling of the notorious darknet marketplace BidenCash, known for trading stolen credit card data and personal information, demonstrates a heightened focus on crypto-related cybersecurity against crime-and-justice activities. Furthermore, the multi-country operation named Operation RapTor, aimed at stopping fentanyl trafficking in the dark web, has led to 270 arrests, the seizure of over $200 million in cash and cryptocurrency, and the disruption of several dark web marketplaces, underscoring the increasing effectiveness of global law enforcement in combating cybercrime.
