Dark Web Posts Advertising Counterfeit Cash Surge 90%

There was a double-digit enhance in deep and dark web ads and sellers selling counterfeit currency very last calendar year, hinting at soaring need from the prison community, threat intelligence industry experts have warned.

Cybersixgill said it noticed a 91% year-on-12 months maximize in posts on the web sites it monitored, and an 82% raise in the quantity of one of a kind sellers in 2022.

The vendor claimed that technology advancements could be providing those at the prime conclude of the market place an edge. The top rated 10% of sellers are responsible for 80% of listings, it claimed.

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“It is possible that the vastly elevated offer and advancement of suppliers of counterfeit forex is a final result of the proliferation of superior printing technology and procedures, which empower much more actors to deliver convincing counterfeits with much less problems,” the report pointed out.

“For case in point, a Massachusetts gentleman was lately sentenced to prison right after printing above $400,000 in phony charges in an at-home operation that utilized an inkjet printer.”

This idea is backed by a further obtaining of the report – a decrease in feed-back provided to sellers of phony forex.

“Despite the all round increase in pretend currency marketed on the underground, there was an approximately 53% lower in feed-back to these listings,” the report disclosed.

“If we presume that shoppers are much more possible to generate feedback when they are dissatisfied with the transaction, the inverse romance amongst posts advertising counterfeit revenue and responses on these posts suggests that buyers are more and more content with the products and the provider.”

Irrespective of the reality that cryptocurrency is normally joined to cybercrime, common dollars seems to continue to be a important resource of felony action. The surge in offer via the dark web could be down to a rise in demand from customers from criminals looking to finance their techniques, Cybersixgill claimed.

“The significant volume of posts promotion counterfeit forex on the underground signifies the enduring relevance of money, irrespective of the rise of electronic currencies,” it concluded. “Unfortunately, the top victims of income counterfeiting functions are the retailers, nearby businesses and individuals who acknowledge cash payments.”