Dark place for scams and frauds

Publication date: February 26, 2024

Place where the sun does not shine – Darknet

To write and explain what Darknet Markets are and where we can find them first we need to get familiar with darknet.

The darknet is a part of the internet that is not indexed by search engines and can only be accessed using specialized software or configurations. It is often associated with illegal activities, such as the sale of drugs, weapons, and stolen data. Darknet and Dark Market can be compared in that they both operate in the hidden corners of the internet and facilitate illegal activities. However, while the darknet is a broader term that encompasses many different sites and services, Dark Market was a specific marketplace that became one of the largest and most notorious illegal marketplaces on the Darknet.

What about fraud shops?

Fraud shops are online stores that specialize in selling stolen personal and financial information, such as credit card numbers, bank account details, and login credentials. These shops also offer tools and services that can be used to conduct fraud, such as phishing kits, malware, and botnets.

The stolen information sold on fraud shops is often obtained through data breaches, hacking attacks, or social engineering techniques such as phishing scams. This information can then be used by cybercriminals to commit various types of fraud, such as identity theft, credit card fraud, and bank fraud.

Scams in cybersecurity world

First of all it is important to get to know what overall scam in cybersecurity is:

In cybersecurity, a scam is a fraudulent activity or scheme designed to deceive individuals or organizations into divulging sensitive information, making financial transactions, or taking certain actions that can compromise the security of their computer systems or personal data. Scams can take many forms, such as phishing emails, fake websites, malware attacks, social engineering tactics, and more.

There can be differentiated various scams, like for example an NFT (Non-Fungible Token) scam, which is a fraudulent scheme that involves creating and selling non-existent or fake NFTs. NFTs are unique digital assets that are stored on a blockchain and verified through a complex process that ensures their authenticity and ownership.

How those types and other scams can be found by services?

  1. User Reports: Many online services have mechanisms for users to report suspicious activity, such as spam messages or fraudulent accounts. These reports are often reviewed by the service’s security or fraud prevention team.
  2. Automated Systems: Online services may use automated systems that analyze user behaviour and data to identify patterns of fraudulent activity, such as large numbers of new accounts being created from a single IP address or suspicious payment transactions.
  3. Security research: Agencies which monitor internet activity on daily basis can find scammers.

Last option to detect scammers is law enforcement because they can use reports from victims or also run their own investigations.

Misleading boosting scheme – Pump and dump tokens

Pump and dump tokens are a type of cryptocurrency scam that involves artificially inflating the price of a particular token or coin through false or misleading information, and then quickly selling off the inflated tokens for a profit. The scam typically involves a small group of individuals or organizations working together to manipulate the market and take advantage of unsuspecting investors.

Pump and dump scams are illegal and can be very damaging for investors who may lose significant amounts of money. It is important for investors to be cautious and do their own research before investing in any cryptocurrency, and to be wary of hype or promises of quick profits. Investors should also be aware of the risks of cryptocurrency investments, which are often highly volatile and subject to sudden market fluctuations.