Data breaches are a real risk for enterprises and one must continually strive to stay cybersafe.
However, while more of the focus has been on how to stay Cybersafe, how to detect and take precautions and being on the defense, there is so much more to learn from following the data breaches and find out what’s its used for because by following the data, we can get a picture of what attackers are looking for, how they use the data, how much it costs, and where it eventually ends up.
In this article we will be looking at where these stolen data are sold, who buys them and how much these stolen data costs.
Let’s get right into it;
The figures
Mega data breaches cost between $50 and $387 million on average, that figure jumped to $387 million on average in 2022.
The price of stolen data can vary widely depending on several factors, such as the type of data being sold, the quantity and quality of the data, and the level of demand for it.
For example, basic personal information such as a name, address, and date of birth, may sell for just a few dollars per record. However, more sensitive data such as credit card numbers, bank account details, or social security numbers, can sell for much higher prices, ranging from tens to hundreds of dollars per record.
The price can also depend on the location and availability of the data. Data from high-income countries or from specific industries such as healthcare or finance can command higher prices.
Little wonder cybersecurity strongholds are surrounded by cybercriminals waiting to pounce at the sight of even the slightest crack in defenses to ravage valuable assets.
The place
Ever heard of #DARK WEB? The Dark web, also known as the darknet, is a part of the internet that is not indexed by standard search engines and requires special software or authorization to access. It has a reputation for being a hub of illegal activities, including the sale of drugs, weapons, and stolen data.
The origins of the dark web can be traced back to the 1990s, when the US Navy developed Tor as a way to protect communications from being intercepted. In 2002, the Tor Project was founded as a nonprofit organization to continue developing and promoting the use of Tor for anonymity and privacy online.
As Tor became more widely used, the dark web began to attract a range of users, including journalists, activists, and dissidents who needed to communicate securely and anonymously. However, the dark web also became a haven for criminals, who used it to sell drugs, weapons, and other illegal items.
The dark web has also been used by whistleblowers, such as Edward Snowden, to leak classified information to the public. In addition, journalists have used the dark web to communicate with sources who need to remain anonymous.
Despite its reputation as a hub for illegal activities, the dark web is still used for legitimate purposes as well. However, its anonymity and lack of oversight also make it a fertile ground for criminal activities, and law enforcement agencies around the world continue to work to shut down illegal dark web marketplaces and catch the criminals who use them.
The Buyers
Stolen data can be sold on the dark web to a variety of buyers, including cybercriminals, fraudsters, identity thieves, and even nation-state actors.
The data can be used for a range of purposes, such as identity theft, credit card fraud, spamming, phishing, and even espionage.
Cybercriminals are one of the main buyers of stolen data on the dark web. They can use the data to conduct various types of attacks, such as credential stuffing, where stolen usernames and passwords are used to gain access to other accounts, or spear-phishing, where stolen email addresses and personal information are used to craft targeted phishing emails.
Fraudsters may also buy stolen data on the dark web to create fake identities or to access financial accounts. They can use the data to apply for loans, credit cards, or other financial products in someone else's name, or to make unauthorized purchases.
Identity thieves are another group that may buy stolen data on the dark web. They can use the data to steal someone's identity and open new accounts or take out loans in their name. They can also use the stolen data to conduct various types of fraud, such as filing fraudulent tax returns or insurance claims.
Finally, nation-state actors may also buy stolen data on the dark web to conduct espionage or influence operations. They can use the data to identify and target individuals for recruitment or to conduct cyber-attacks against specific organizations or countries.
Overall, stolen data is a valuable commodity on the dark web, and there is a significant demand for it among various types of buyers.
In conclusion:
Staying cyber safe is becoming increasingly important in today's digital age. With ever increasing amounts of personal data shared online, there's a greater risk that this information could end up in the wrong hands and used wrongly and this could include the sale of personal data to cyber criminals who use it for illegal activities.
It is therefore crucial to take steps to protect our personal information and to be aware of the risks involved in sharing our data online to avoid the potential consequences of having our data sold on the dark web.
