US officials have shut down a dark web platform known as BidenCash by seizing 145 domain names and an undisclosed amount of cryptocurrency.
The marketplace had been active since March 2022 and was used to sell stolen credit card details, personal data, and login credentials.
BidenCash served more than 117,000 users and handled transactions involving more than 15 million payment cards. Authorities estimate that the platform generated over $17 million.
Did you know?
Subscribe – We publish new crypto explainer videos every week!
What is Decentralized Crypto Gambling? (Animated Explainer)
Between October 2022 and February 2023, BidenCash released more than 3 million stolen card records for free. These included full card numbers, CVVs, account holder names, email addresses, and physical addresses.
According to officials, the platform charged users small fees to buy access to stolen data and hacked servers. These charges added up over time due to the platform’s large user base.
The US Attorney’s Office for the Eastern District of Virginia announced the operation on June 5. The domains taken over in the sweep point to law enforcement servers, which effectively block access to the original site.
The US also obtained court approval to seize cryptocurrency tied to the operation, though the total value of those assets has not yet been released.
The investigation was led by several federal agencies, including the US Secret Service’s office in Frankfurt, its Cyber Investigative Section, and the FBI’s Albuquerque Field Office.
On May 22, an international operation, known as Operation RapTor, led to 270 arrests and seized $200 million in cash and crypto from darknet drug markets. How did the case unfold? Read the full story.
Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era.With close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He’s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers.Aaron is the go-to person for everything and anything related to digital currencies. With a huge passion for blockchain & Web3 education, Aaron strives to transform the space as we know it, and make it more approachable to complete beginners.Aaron has been quoted by multiple established outlets, and is a published author himself. Even during his free time, he enjoys researching the market trends, and looking for the next supernova.
