Darknet Criminals Are Selling Fiat for Bitcoin at 12 Cents on the Dollar

Armor has published its second annual report analyzing the activities of anonymous free markets operating on the dark web.

The report was compiled by Armor’s Threat Resistance Unit (TRU), which trawled 12 English and Russian language darknet markets between February and June of this year to gain an intimate understanding of the services listed on deep web marketplaces.

Armor’s researchers found cyber-criminals are offering to purchase bitcoin for as little as 12 cents on the dollar in exchange for sums of cash transferred from hacked bank accounts.

The trades allow cybercriminals to reap a return on stolen credit card or online banking credentials, while also shifting the associated legal risk onto the buyer.

Reference: https://www.ccn.com/darknet-criminals-are-selling-fiat-for-bitcoin-at-12-cents-on-the-dollar/

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Author: Neo Anderson

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