Cybercrime is more rampant and organized than ever before. Here, our Maitland cybersecurity services team looks at the Genesis Market and the lessons we learn from its activities.
Cybercrime has come a long way from a teenaged Matthew Broderick hacking a military system in WarGames. Today, cybercriminals are sophisticated, organized and have plans for our finances and identities. Malicious actors are also not acting alone. The recent dismantling of the Genesis Market shows us how far-reaching, structured, and coordinated cybercrime has become.
What Is The Genesis Market?
The Genesis Market started in 2018 and has been a hotbed of online criminal activity. Stolen data from over 1.5 million computers totaling 80 million credentials have been up for grabs over the past few years. This cybercriminal marketplace has targeted users worldwide, including the U.S., France, Germany, India, Indonesia, Italy, Mexico, Pakistan, Poland, Saudi Arabia, Spain, Sweden, Turkey, and Ukraine.
The most popular data for sale on the Genesis Market was from the financial sector, critical infrastructure, and various government agencies. The U.S. Treasury Department designated it as one of the world’s largest illicit marketplaces due to its threat to U.S. government organizations.
The U.S. Department of Justice added, “The combination of stolen access credentials, fingerprints, and cookies allowed purchasers to assume the victim’s identity by tricking third-party websites into thinking the Genesis Market user was the actual owner of the account.”
Operation Cookie Monster
In a coordinated effort between 17 countries, the Genesis Market was shut down in early 2023 under the law enforcement exercise code-named Operation Cookie Monster. This crackdown yielded 119 arrests and 208 property searches across 13 countries.
Leading up to this exercise, the U.S. Federal Bureau of Investigation (FBI) did some hacking of their own, gaining access to backend servers which allowed them to gather information on 59,000 Genesis Market users.
Unfortunately, when one cybersecurity threat is shut down, others spring up in its place. Multiple similar marketplaces are already up and running to fill the vacuum left by Genesis Market.
STYX is the largest up-and-comer in the wake of the Genesis Market shutdown. A majority of STYX vendors offer fraud and money laundering services focusing on digital banking platforms, e-commerce, online marketplaces, and payment apps.
While the government here in the U.S. and governments worldwide are vigilantly fighting cybercrime, we must also keep a close watch on our data systems to protect them.
You Need A Cybersecurity Partner
It’s nearly impossible to manage the security of your network without professional help. Dytech Group’s Maitland cybersecurity services are available to monitor the security of your network and protect your data with the latest security solutions. Here’s what you’ll get when you partner with Dytech Group.
Your network’s first line of defense against attack is its firewall. If your business does not have a firewall, contact us to set one up immediately. Our data security team can evaluate your current firewall software and recommend an upgrade if needed.
When users behind your firewall visit malicious websites or click suspicious links in their emails, our monitoring software can catch it. Our system can flag this activity and shut down attempts to infiltrate your network.
Data Backup Solutions
A data backup is handy in a flood, fire, or natural disaster, but it’s crucial to protect against ransomware. Having real-time access to your data in the event of a malicious attack is vital to the livelihood of your business.
Dytech Group Is The Cybersecurity Partner You Need
The best way to protect your network and your business is by partnering with a Maitland cybersecurity services team. Dytech Group can evaluate your current data security system and fill the gaps where necessary. Contact us today to see how we can help keep your data safe.