Why you should be worried about the booming Dark Web economy


The Dark Web economy is booming and that’s bad news for everyone

In the aftermath of the global pandemic, everyone is trying to do more with less. Economic challenges create budget deficits that require creative thinking for businesses in almost every industry. But as many facets of the global economy begin to shift into recovery mode, there is one economic engine that has fueled explosive growth that shows no signs of slowing down: cybercrime. The dark web economy is growing by leaps and bounds. This might be good news for cybercriminals, but it is terrible news for businesses.

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There is no recession on the Dark Web

The dark web economy has undergone major changes over the past year as new cybercrime opportunities have created new profitability for everyone from major ransomware gangs to Cybercrime as a Service workers. The demand for all kinds of specialist work in the field of cybercrime is high – experts estimate that 90% of posts on popular dark web forums are from buyers looking to hire someone for hacking services. An estimated 69% of these dark web forum recruiting posts were looking for cybercriminals to hack websites, while 21% were looking for malicious actors who could obtain specifically targeted user or customer databases.

Everything else the researchers noted about hiring on the dark web forums was little potatoes. About 7% of the measured forum posts were advertisements aimed at work-seeking hackers. Even in a booming economy, there are many reasons for hackers to advertise their services. Some hackers have very specialized skills, such as specialists in social media scams or branded identity theft campaigns. Advertising their services in a unique way helps them find better paying work. Others may be new to the gig and trying to build a reputation or make contacts. Still others are vagrants entering and exiting cybercrime gangs.

Not all “hackers” are actually hackers. Putative cybercriminals can also profit from selling their own technology. Just over 2% of forum posts measured by researchers were authored by cybercriminal developers who sold tools of the trade such as password crackers, payment skimmers, malware, ransomware, and software. other hacking programs. Hackers also use these forums as a way to meet people interested in planning or participating in cyber attacks – around 1% of Dark Web forum posts surveyed were written by hackers looking for hackers for a team.

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Everything has a price

Why Do Cybercrime Buyers Hire Hackers? The most popular category of job postings is for buyers who want to hire hackers to meddle in retail operations to facilitate payment hacking. They hire hackers to inject malicious JavaScript code into websites in order to capture data entered by buyers. These buyers are also interested in the hacked databases of retail establishments. Hacking these companies typically costs between $ 50 and $ 2000. This is a disaster for many organizations – 60% of businesses go bankrupt after a cyberattack, a number that can go much higher when direct financial blows are involved.

Websites are an ever popular target. Buyers who want to acquire web shells, access website administration interfaces, or out-of-the-box exploits that can be used to inject SQL code are still hiring. This category was particularly hot as the sudden switch to remote working created vulnerabilities to be exploited. A slow and hesitant update cycle for many companies also left usable openings. Hacking a website can cost up to $ 10,000. A task such as web shells can cost anywhere from pennies each to $ 1000 per instance depending on the difficulty and time commitment involved for the hacker. while custom databases cost between $ 100 and $ 20,000, or between $ 5 and $ 50 for 1,000 entries.

Buyers crave databases, which creates opportunities for enterprising hackers. These enterprising hackers spend a day in the field recovering data from companies that haven’t addressed vulnerabilities. Sometimes hackers don’t even wait for a buyer, they sell pre-hacked and freshly unlocked databases that can cost up to $ 20,000, or up to $ 50 for 1,000 entries. Typically, these entries include Personally Identifiable Information (PII) in each entry like username, email address, full name, phone number, home address, date birth and sometimes social security and identification numbers. Store hacking, sometimes involving assistance from malicious insiders, such as accessing a custom database, comes at a steep price: between $ 100 and $ 20,000, or between $ 5 and $ 50 for 1,000 entries. – certainly no change.

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Put stronger protection between your business and the danger of the Dark Web

Thriving dark web markets don’t bode well for business. It is critical that organizations take some steps now to secure their data and systems against this growing threat. Here is our recipe for a winning combination of solutions to mitigate this growing danger of the Dark Web.

  • Dark Web ID – Don’t let cybercriminals sneak into your network with a compromised ID. Up to 80% of data breaches involve compromise of credentials. Make sure yours aren’t available with 24/7/365 human and machine-powered monitoring that’s always on that alerts you quickly if something goes wrong.
  • Passly – Secure identity and access management with multi-factor authentication is essential to cut power to a stolen password. Multi-factor authentication alone adds an extra layer of protection between hackers and your valuable data, stopping 99% of password-based cybercrime. Plus, automated password reset makes everyone’s life a bit better.
  • BullPhish ID – Protecting a business from cybercrime starts with protecting it from phishing. An estimated 65% of cybercriminals use phishing as their primary attack method. The new BullPhish ID allows trainers to create their own personalized content or choose a pre-designed phishing simulation kit in 8 languages, with new content added every month to make sure everyone is up to date with the latest threats.

Get expert help to make sure you’re doing whatever it takes to spot and stop the dangers from the Dark Web in 2021.

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*** This is a syndicated Security Bloggers Network blog from Blog – ID Agent written by Matt Solomon. Read the original article at: https://www.idagent.com/why-you-should-worry-about-the-booming-dark-web-economy

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