U.S. federal authorities have dismantled BidenCash, a central darknet marketplace that sold millions of stolen credit cards. The FBI and U.S. Secret Service led the operation, seizing 145 domains connected to the platform.
BidenCash was a major hub for trading stolen financial data and compromised credentials. After appearing in 2022, the site has received more than $17 million worth of cryptocurrency for illegal transactions.
On both the hidden dark web and the regular Internet, buyers and sellers used cryptocurrencies to hide their true identities. Authorities confirmed that even bidencash.asia, its clearnet domain, now redirects to a U.S. government seizure banner.
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Officials at the Department of Justice explain that, from October 2022 to February 2023, BidenCash grew in popularity by offering 3.3 million stolen credit card numbers to the public, in line with the company’s goal to grow.
FBI agents cooperated with the U.S. Secret Service, Dutch National Police, Shadowserver Foundation, and Searchlight Cyber. The team’s efforts led to the seizure of all websites supporting BidenCash and the stoppage of its wrongdoing.
Crypto Payments Fueled Growth and Shielded the Identity of Operators
BidenCash relied entirely on cryptocurrency transactions to process user payments. This helped the operators avoid banking oversight while collecting service fees on every transaction conducted through the platform.
In addition to the card data, users could purchase access to compromised systems using data stolen from the system. This led to cybercriminals wishing to gain access to private networks and databases without permission.
The decision was taken as part of worldwide actions to shut down criminal networks using crypto funds. BidenCash’s service recommended both access to credit cards and stolen login credentials.
A charge accompanied all transactions on the site. Since crypto payments made it tough to find out who was behind the marketplace, investigators finally used new digital methods to identify the operators.
The site was removed shortly after Europol conducted Operation RapTor. Law enforcement targeted dark web dealers selling fentanyl with crypto and made several arrests around the world. In another recent effort, the U.S. Department of Justice confiscated over $24 million in crypto tied to a Russian national accused of operating the Qakbot malware network.
Conclusion
The shutdown of BidenCash shows how law enforcement agencies are intensifying their crackdown on crypto-enabled darknet platforms. With global partnerships and improved tracking tools, the dark web is becoming less safe for cybercriminals.
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