Telegram is becoming an increasingly popular place to sell stolen financial data. This conclusion was reached by experts of the Israeli company Cybersixgill, engaged in research in the field of darknet, writes SecurityLab.
Telegram is a free cross-platform messenger, protected by end-to-end encryption. Since the platform has very soft content moderation rules (only extremist messages are removed), it is no wonder that cybercriminals have adopted it, Cybersixgill believes.
In addition, it is much easier to set up a Telegram channel to sell stolen data than to create an entire website on the darknet from scratch. Since Telegram channels are fickle and close faster than darknet trading platforms, they are more secure for cybercriminals, as they are more difficult to track and relate to real people.
Cybersixgill's research is based on data collected during 2021. Although the amount of banking data sold via Telegram has decreased over this period, the problem still remains relevant. So, last year, the number of data sold decreased by 60% compared to 2020, but researchers attribute this to a decrease in the issuance of new bank cards and the growing popularity of contactless payments during the pandemic. In addition, the overall decline in the carding market may also be due to the shift of cybercriminals to more profitable operations using ransomware.
Most often, cybercriminals sell stolen user data to PayPal, followed by Chase and Western Union. Seizing PayPal accounts provides a direct way to withdraw other people's funds, and thanks to the popularity of the platform, it is easy to make online purchases on almost any site. Basically, hacked PayPal wallets are used to purchase cryptocurrencies, which allows you to launder the stolen money.
Money transfer services are also often offered via Telegram.
Although in a smaller volume, credit card data is still sold in Telegram. Almost half of them have CVV/CVV2 codes available, which are required to confirm online purchases.
The cost varies from $10 to $1500 per card, depending on the account balance and up-to-date data.
Among other things, Telegram also has channels that sell banking credentials that can be used for electronic withdrawals.
The aforementioned represents only a small fraction of cybercrime activity on Telegram channels, along with other activities such as identity theft, fraud, access to corporate networks, database theft, and much more.
Telegram is a free cross-platform messenger, protected by end-to-end encryption. Since the platform has very soft content moderation rules (only extremist messages are removed), it is no wonder that cybercriminals have adopted it, Cybersixgill believes.
In addition, it is much easier to set up a Telegram channel to sell stolen data than to create an entire website on the darknet from scratch. Since Telegram channels are fickle and close faster than darknet trading platforms, they are more secure for cybercriminals, as they are more difficult to track and relate to real people.
Cybersixgill's research is based on data collected during 2021. Although the amount of banking data sold via Telegram has decreased over this period, the problem still remains relevant. So, last year, the number of data sold decreased by 60% compared to 2020, but researchers attribute this to a decrease in the issuance of new bank cards and the growing popularity of contactless payments during the pandemic. In addition, the overall decline in the carding market may also be due to the shift of cybercriminals to more profitable operations using ransomware.
Most often, cybercriminals sell stolen user data to PayPal, followed by Chase and Western Union. Seizing PayPal accounts provides a direct way to withdraw other people's funds, and thanks to the popularity of the platform, it is easy to make online purchases on almost any site. Basically, hacked PayPal wallets are used to purchase cryptocurrencies, which allows you to launder the stolen money.
Money transfer services are also often offered via Telegram.
Although in a smaller volume, credit card data is still sold in Telegram. Almost half of them have CVV/CVV2 codes available, which are required to confirm online purchases.
The cost varies from $10 to $1500 per card, depending on the account balance and up-to-date data.
Among other things, Telegram also has channels that sell banking credentials that can be used for electronic withdrawals.
The aforementioned represents only a small fraction of cybercrime activity on Telegram channels, along with other activities such as identity theft, fraud, access to corporate networks, database theft, and much more.
