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STYX, a new darknet market that was recently introduced, is quickly becoming a hub for selling illegal services and stolen data.
The marketplace offers a wide range of illicit services, including money laundering, identity theft, DDoS attacks, the sale of fake IDs and stolen information, and flooding, among others.
It was launched on January 19 and features an escrow system to facilitate transactions. STYX was first discovered by analysts at Resecurity in early 2022 during its development phase.
The ability to pay with multiple cryptocurrencies and a separate category for reliable sellers appear to increase clients’ trust.
To enhance customer convenience, the developers created a Telegram bot through which users can buy or sell underground items. Examples of fake IDs, including those of President of the United States Joe Biden and football player David Beckham, being sold through Telegram are provided below.
Financial fraud services
According to the Resecurity report, next offers were found on the STYX market:
- Biometric copies for circumventing anti-fraud systems.
- Sale of stolen cards and other personal data.
- Services that extract personal information about individuals.
- Fake documents eligible in more than 60 countries.
- Flooding services including telephone, email, and SMS.
- Money laundering services and other fraud.
The most in-demand cybercriminal activity is money laundering, which is why this service is essential on STYX.
Users of the market can order money laundering services and make transactions via Apple Pay, PayPal, or other convenient methods. The platform offers these financial operations across the United States, United Kingdom, and Canada.
According to experts, STYX is a new platform for cyber attackers who focus on financial crimes. Moreover, operating the underground fraud market is a highly profitable business.
In conclusion, it is clear that financial institutions, including digital banks, online payment, and e-commerce systems, need to improve fraud protections to resist cyber attacks, which have significantly increased in popularity and efficiency.