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Darknet Site Skynet Market Founder Admits Guilt in $1 Million Payment Data Sale

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ByHarper Stewart

Jul 27, 2023
Skynet Market Founder Admits Guilt in Data Sale
Harper Stewart
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Accusations of planning to sell stolen financial data on Darknet markets were accepted as evidence by a US citizen.

Who Committed the Crime?

A Darknet carding website named Skynet Market was launched by 40-year-old Michael Michalo. In early 2016, Michalo allegedly organized two further marketplace ads, according to the indictment. He was tasked with gathering data on credit and debit card theft. In March 2022, the offender was taken into custody.

In addition, Michalo acknowledged selling credit card information on the AlphaBay Darknet market, while his associates also acknowledged selling the information.

Under the alias “ggmccloud1,” according to the Justice Department, the defendant made at least $1 million in Bitcoin between February 22, 2016, and October 1, 2019. The value is predicated on the fact that Michalo’s digital assets have increased over the years, thus at least $4.5 million will be forfeited.

Results

Michalo entered a plea of guilty to six charges of money laundering as well as one count each of conspiracy and access device fraud. The maximum punishment for Michalo is 75 years in jail.

Two more of Michalo’s acquaintances are involved in the investigation. Taylor Ross Staats, one of them, admitted guilt to one count of conspiring to steal access devices. The $21,000 forfeited by Staats. Staats’ main responsibility was to confirm the legitimacy of the stolen credit cards. British national Simon Kaura, a third conspirator, is awaiting extradition to the US so he may face charges.

 
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Harper Stewart

With a deep understanding of the complexities of the Dark Web, Harper curates informative and thought-provoking content for our readers. Her knowledge of the hidden corners of the internet and cybersecurity helps shed light on the often mysterious and illicit activities that take place in this realm.