Germany’s Federal Criminal Police Office today announced (translation here) that the world’s largest illegal dark web marketplace, Hydra Darknet Market, has been taken down. The Darknet market, which has been in operation since 2015, was a Russian-language darknet marketplace that opened as a competitor to the now-defunct Russian Anonymous Marketplace (aka RAMP). The agency attributed the shutdown to an extensive investigation operation conducted by its Central Office for Combating Cybercrime (ZIT) in partnership with US law enforcement authorities since August 2021.
Chris Olson, CEO, The Media Trust, had this to say about this takedown:
“The shutdown of Hydra is a small win for cybersecurity, but a win nonetheless. Attackers who target consumers for credit card details and other personally identifiable information (PII) can’t use it directly without risking discovery and arrest; therefore, they sell this information on darknet markets instead. Without them, the incidence of cybercrime would undoubtedly decrease.”
“Unfortunately, Hydra represents a miniscule drop in the bucket of global cybercrime, which will cost organizations (and therefore consumers) about $10.5 trillion per year by 2025. Cyber actors have perfected the pipeline from Web and mobile-based phishing attacks to darknet markets which we will not name, and new ones are opening all the time. In truth – if past precedent is anything to go by – Hydra operators will likely take their digital assets and resurface in the near future under new identities and domains.”
Any takedown of an online cybercrime marketplace is a good thing. But there needs to be much more of this to send threat actors and wannabe threat actors scared. Let’s hope that law enforcement knows that.
The Works Pwned By Hackers Shutting Down Some Stores
Posted in Commentary with tags Hacked on April 5, 2022 by itnerdBBC News this morning reported that The Works shop was forced to shut some of their stores down after a cyber-attack. The retailer was forced to close 5 of its 526 stores after hackers gained access to its computer systems and caused issues with its tills. The Works has stated that no customer payment data was compromised.
Chris Olson, CEO, The Media Trust, a digital safety platform:
“The Works breach follows many all-too-familiar beats based on my experience of cyberattacks directed at retailers. And while it seems that no credit card information has been impacted at this time, the reason is not necessarily reassuring: like many businesses, The Works processes payments from its Web and retail endpoints via one or more third parties.”
“Unfortunately, third parties are increasingly targeted by malicious actors, representing one of the most overlooked risk factors for breaches of financial information. One only has to look at Magecart to understand the potential ramifications. As part of its remediation and response, The Works should carefully evaluate its digital partners to ensure they are not vulnerable – otherwise this relatively small cyber incident may end in a much bigger one.”
The Works said it had told the Information Commissioner’s Office (ICO) about the attack. Which means that if they screwed something up, we’ll out and they’ll be held accountable. I’ll be watching for that report when it comes.
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