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Cybersecurity
AbacusTech

No honor among thieves: Why the dark web is having a trust crisis

Suspicion plagues one of the darkest corners of the web after authorities crack down

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Posts on Torum, a crypto-driven and self-governing forum, wondering which dark web marketplaces can still be trusted. (Picture: Trend Micro)
Karen Chiu
This article originally appeared on ABACUS

“I don’t trust society to protect us,” said Michael Corleone in The Godfather. Now it looks like criminals on the dark web don’t even trust the underground marketplaces they’ve been relying on to trade stolen credit card accounts.

Researchers at Trend Micro, a Tokyo-based security firm, have found that vendors and their customers in the dark web have essentially descended into a climate of suspicion after the FBI and Europol took down a string of major dark web marketplaces last May. At the time, it also appeared that owners of Wall Street Market -- one of the seized sites -- were planning an exit scam to make off with over US$14 million worth of cryptocurrencies held in escrow between sellers and buyers. 

None of these occurrences have done much to nurture confidence among anonymous cybercriminals. 

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"Since 2015, one of the biggest changes in cybercriminal underground marketplaces is the erosion of trust,” said Tony Lee, head of consulting in Hong Kong and Macau at Trend Micro. 

“There is no honor among thieves in these marketplaces, and this has impacted how they buy, sell and communicate."

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Posts on Torum, a crypto-driven and self-governing forum, wondering which dark web marketplaces can still be trusted. (Picture: Trend Micro)
Posts on Torum, a crypto-driven and self-governing forum, wondering which dark web marketplaces can still be trusted. (Picture: Trend Micro)

Researchers say that in the aftermath of crackdowns, they’ve yet to see dark web users converging on any single dominant marketplace like before. Users commonly write on forums dreading about the possibility of yet another exit scam or law enforcement takedown. Of the remaining functioning sites, many are facing DDoS attacks, where hackers cripple a site by flooding its server with excessive internet traffic. Some users even suspect that law enforcement is behind them. 

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