May 09, 2024 15:00:00It is reported that more than 850,000 people have used 75,000 fake online shops operated by the China-based criminal organization 'BogusBazaar' and stolen credit card information has been resold on the dark web and used for fraudulent purposes totaling approximately $50 million. A German cybersecurity firm, Security Research Labs GmbH (SRLabs), has reported that as many as 850,000 users purchased products from 75,000 fake online shops operated by the China-based criminal organization BogusBazaar. The stolen personal information and credit card details were then used to make fraudulent orders worth approximately $50 million on the dark web. BogusBazaar acquires expired domains sold on Google to host fake shops, generally selling shoes and clothing at very low prices. According to SRLabs, most of BogusBazaar's servers are located in the United States, and each server hosts between 200 and 500 online shops.

Source: The Guardian May 09, 2024 11:30 UTC