Crypto profile adds value to identity theft impersonation

Crypto profile adds value to identity theft impersonation

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  • Identity theft continues to haunt users across the globe.
  • Crypto profile adds value to the impersonation persona prices.
  • Crypto becomes a high demand area of stolen identities.

Online security and cyber-crime have been going hand in hand for decades. IT experts are constantly devising new strategies to ensure the protection of critical data while IT criminals are on the quest to break through security obligations and gain access to valuable information. This has opened doors to a new shady identity theft market running digitally that has sold 1.9 billion identities online in 2017 alone. While the US justice department is also deeming cryptocurrency a threat somewhat ignoring other areas.

Critical information researchers at the Eindhoven University of Technology have stumbled upon a shocking piece of information wherein provided evidence exhibits a fancy display of thousands of detailed digital profiles being traded on an online Russian-based identity theft marketplace. The criminals are able to access confidential information such as credit card details, authentication passwords, etc. through a personalized “fingerprint.”

The identity theft cycle

The Ultra-modern marketplace boasts up to 260,000 user profiles and adding more to its list, keeping it updated and relevant at all times. Every profile comes with detailed information such as email addresses and user authentication passwords. Etc and also helps their customers filter profiles to reach the target prospective victims conveniently.

Crypto profile add values to identity theft prices

The research further reports the profiles pricing varying between $1 to $100 depending upon the selection. Retrieval of cryptocurrency-related profiles was deemed to be priced the highest, while the country of origin was spotted as an additional critical marker. For a few hundred dollars, this state of the art organized unlawful operation grants criminals easy access to rich profiles that are likely to turn into a thick financial gain. Not just access but also the facility to download the list of target profiles through dedicated software.

Terming this illegal operation as the largest discovered to date, Researchers Campobasso and Allodi had to extensively look into profile listings and get access to invite codes under the pretext of being cybercriminals in order to gain access to the website whose name has been keeping anonymous to diminish the risk of retaliation.

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Saad B. Murtaza

Journalist, Writer, Editor, Researcher, and Strategist with over 10 years of experience in the digital, print and public relations industries, Saad has been working with the mantra, Creativity, Quality and Punctuality. In his waning years promises to build a self-sustaining institute that provides free education. Carrying a diverse portfolio he has studied and written on topics related to cyber crimes, scams, blockchain, and cryptocurrencies.

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