FBI Shuts Down Russia-based Website Accepting Crypto Payments

By Kapil Gauhar

The US Department of Justice, last Tuesday, said that the FBI has figured out how to bring down DEER.IO, an online platform that facilitated several shops selling cybercrime products and services like hacked records and information.

The media previously discovered that the FBI had captured the platform operator, Kirill Victorovich Firsov on March 7th, at the John F. Kennedy Airport, in the New York city.

Now, the website shows the FBI warning that educates about its seizure.

DEER.IO has been around since the end of 2013. At the hour of seizure, it facilitated in excess of 24,000 shops with absolute sales coming to about $17 million. The seizure order was given by the Southern District of California Court.

Hackers have been a significant issue for the cryptocurrency network, and a considerable lot of them have most likely utilized stolen data sold on DEER.IO to get into the records of cryptocurrency exchange and wallet users.

The US Attorney Robert Brewer remarked –

“There is a robust underground market for hacked stolen information, and this was a novel way to try to market it to criminals hoping not to get caught. Hackers are a threat to our economy, and our privacy and national security, and cannot be tolerated.”

Convicts Paid Month to Month Membership Fee in Bitcoin

Cyber criminals, a year ago, who needed to create the shop on DEER.IO, were charged 800 rubles for each month, which is about $12.50. The charge could be paid in BTC or a few online payment systems, including Russian money transfer service WebMoney.

Once the cyber criminals made sure about their place on the platform, the shop was guided through a mechanized set-up to upload the products and services and set a digital money wallet to collect payments.

The FBI has assessed around 250 stores utilized by hackers to sale a large number of records and PII documents including user names, passwords, addresses, and US Social Security Numbers, among others. The greater part of the casualties are from the US and Europe.