Armor research Agency published its second annual report with the analysis of anonymous trading platforms that work on the darknet. The experts reviewed the work of 12 illicit services in English and Russian languages, in the period from February to June of this year. It turned out that many of them provide services for buying Bitcoins for Fiat money stolen from Bank accounts.
Money laundering at the highest level
“Dirty money” to sell is not easy, so the criminals have a very good profit in this business. Illegal trading platforms offer bitcoins for the sum from 2 500 to 10 thousand dollars from Bank accounts that were involved in the thefts. For every dollar the seller receives Fiat at least 12 cents to the equivalent of the cryptocurrency. The real offers over 10 thousand dollars you can get BTC in the amount of $ 800. That is one bitcoin at today’s exchange rate would cost the criminals approximately 129 thousand stolen dollars.
Head of research at Armor Chris Hinkley noted that this deal is still profitable.
For those fraudsters who have no well-developed network of relationships to monetize stolen credit card data and Bank accounts, this is a great opportunity to get the money. With the help of illegal trading platforms hackers sell vast amounts of personal information of Bank customers.
To spend the stolen money is very problematic, so criminals prefer to receive bitcoins, even at such a high price. In Armor came to the conclusion that the main cryptocurrency remains the most popular digital asset on the darknet.
Previously, such services were not so often, but now they escalated into a full-fledged underground industry of money laundering.
In darknet huge number of hackers to transfer the money into the specified Bank account or a PayPal account. To launder the currency also use Western Union transfers.
Hopefully, it will not hurt the reputation of the crypts in the future. Moreover, it is important not to forget that the Fiat for the purchase of devices is used where more than cryptocurrency. Even more interesting are looking for in our cryptodata millionaires!
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