Russia has Shut Downs DarkNet Sites that Earned $263m in Crypto

According to reports, Russian authorities have shut down four darknets “carding” websites that accepted cryptocurrency payments.

Russian authorities are said to have shut down four darknets “carding” websites that accepted cryptocurrency payments. Trump’s Dump, Sky-Fraud forum, UAS Store, and the notorious Forum Shop are among the platforms affected.

Carding websites sell stolen credit cards that can be used to buy items such as luxury goods or premium gift cards, which can then be traded for cash, typically through person-to-person transactions. These credit cards are obtained through compromised web-based banking and online store platforms.

From the sale of stolen credit cards, the four dark web platforms made more than $263 million in popular cryptocurrencies

According to a report published on Wednesday by Elliptic, the four dark web platforms made more than $263 million in popular cryptocurrencies from the sale of stolen credit cards. According to the report, the majority of buyers paid for these cards with bitcoin (BTC), litecoin (LTC), and ether (ETH).

Forum Shop, one of the platforms seized by Ministry of Internal Affairs officials in Russia, was the largest vendor of stolen credit cards. The platform allegedly made more than $256 million from the sale of these stolen cards for cryptocurrency.

Carding websites are among the darknet marketplaces that use cryptocurrency for money laundering. This latest shutdown reflects the increasing heat on Russia’s cybercrime world, with numerous arrests announced in recent months.

Russian authorities raided members of the notorious Ravil ransomware gang in January, recovering approximately $5.5 million in cash and cryptocurrency.