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Police Shutter Largest German-Speaking Criminal Marketplace

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Fraud Management & Cybercrime

Crimenetwork Served as a Platform for Illegal Goods and Services

Akshaya Asokan (asokan_akshaya) •
December 4, 2024    

Police Shutter Largest German-Speaking Criminal Marketplace
A snapshot of a video posted by the German Federal Criminal Police Office about its sezirue of the Crimenetwork illicit online marketplace. (Image: Bundeskriminalamt)

German police arrested the suspected administrator of the largest German-speaking underground markets for illegal goods and services.

See Also: The Healthcare CISO’s Guide to Medical IoT Security

Crimenetwork, online since 2012, was used to sell stolen data, drugs and forged documents. The platform, active across German-speaking countries, had more than 100,000 users and 100 sellers when authorities seized its servers.

The Frankfurt Main Public Prosecutor’s Office and the German Federal Criminal Police Office on Tuesday said the 29-year-old suspected site administrator remains in jail after a first court appearance Monday.

Crimenetwork primarily received proceeds in cryptocurrencies Bitcoin and Monero, with the operators of the platform charging 5% of any sale. Between 2018 and 2024, the platform generated sales worth 1,000 Bitcoin and 20,000 Monero coins, transactions now valued at approximately 90 million and 3 million euros.

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As part of the crackdown, police also confiscated cryptocurrencies worth one million euros, as well as expensive vehicles from the suspect. In a video with graphics aping an 8-bit video game, German police suggested they have copies of user and transaction data and messages sent through the site.

The disruption of Crimenetwork is part of a wider operation, called “Operation PowerOFF,” undertaken by international law enforcement agencies to fragment the cybercrime ecosystem and hinder the abilities of the hackers.

As part of Operation PowerOFF, German federal police shut down distributed denial-of-service booter site Dstat.CCCC, and arrested two suspect operators of the platform. They also shut down 47 digital money currency exchange services hosted in Germany.

Germany was also behind the 2022 shuttering of Russian darknet marketplace Hydra, which has been known to offer stolen credit and SIM cards, VPN access, and cryptocurrency laundering services.

Police across Europe have grown more aggressive in shutting down illicit marketplaces, making use of techniques such as tracing blockchain transactions and investigating cloud computing providers to create a wave of disruptions.

Investigators are also better at exploiting the revealing mistakes cybercriminals make when doing the drudge work of maintaining an online marketplace. Cybercriminals tend toward complacency, said Alex Cosoi, chief security strategist at Bitdefender, which helped Finnish authorities earlier this year shut down a darkweb marketplace.

“They imagine if they do a tiny mistake, that police will bust their doors the next day. Which is not the case,” Cosoi told Information Security Media Group in October. “A month later, they do another OpSec mistake, and still, police doesn’t come. And they grow sloppy and make more mistakes” (see: European Police Make Headway Against Darknet Drug Markets).





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    References:

    "Cybersecurity Market, By Component (Hardware, Solution, Service), By Security Type, By Solution, By Application (IT & Telecom, Retail, BFSI, Healthcare, Defense & Government, Manufacturing, Energy, Others), By Region Forecast to 2032". Www.Emergenresearch.Com, 2023, https://www.emergenresearch.com/industry-report/cyber-security-market. Accessed 25 May 2023.

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    PSL’s Easy Guide to Understanding Cybersecurity

    The world of cybersecurity can often feel like a maze of technobabble and obscure acronyms. Yet in an era where our lives increasingly depend on digital infrastructure, it's important to have a basic understanding of the terminology involved. Learning about cybersecurity can help you avoid common mistakes and limit the chance of becoming a victim of these crimes.

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    4) Firewall

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    10) Botnet

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    Understanding cybersecurity is not just for the tech-savvy; it's for everyone. We are all potential targets for cyber threats, and comprehension of basic cybersecurity terminology can make a significant difference in safeguarding ourselves and our digital assets.

    Employing cybersecurity measures also helps to keep your digital data safe. This might include using a VPN, enabling two-factor authentication, or simply being wary of suspicious emails to prevent phishing attacks.

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