NordVPN recently conducted research that reveals a rise in prices for stolen payment cards on dark-web marketplaces in most countries. Although the global average price hovers around $8, some markets experienced a substantial increase, with prices surging by up to 444%.
This price rise serves as a stark reminder of the escalating cybercrime issues. With more financial transactions happening online, it’s increasingly crucial for individuals and businesses to protect sensitive financial information adequately.
Interestingly, not all markets experienced price hikes. In Canada, for example, the average price for stolen payment cards dropped from C$11.06 in 2023. However, most markets show an upward trend in the price of stolen payment cards.
Demystifying the Dark-Web Marketplace
The dark-web marketplace, a hub for illegal activities like buying and selling stolen financial information, operates in secret, hidden internet areas. This secrecy makes it challenging for law enforcement to trace the cybercrime perpetrators.
Stolen payment card information is a goldmine for cybercriminals, enabling fraudulent purchases or even identity theft. The price rise for stolen payment cards on these marketplaces suggests a growing demand for such illegal activities.
NordVPN‘s research clearly shows that payment card theft isn’t disappearing. The global average price of stolen cards, around $8, underlines the value cybercriminals place on personal financial information.
The rising prices on dark-web marketplaces highlight the need for secure financial practices and strong cybersecurity measures. Protecting payment card information is not just crucial for preventing personal financial loss, but also for protecting against identity theft and other cybercrimes.
