New Dark Web Market Styx Focuses on Financial Fraud Services

Abstract: 

A new dark web marketplace named STYX has been created to buy and sell illegal services. Some of its services include DDoS, bypassing 2FA, stolen IDs, malware, and money laundering. It opened in January and uses a built-in escrow system to facilitate transactions with cryptocurrency. It also contains a section for vetted vendors. Each illegal service has multiple different options and incentives. For example, money laundering may keep 50% of the laundered amount or charge a commission on gift cards. The creation of STYX serves to show that cybercrime is a potentially lucrative business, and that it is much more organized and developed than it seems. Legal services, such as payment and e-commerce, must work to fight the use of these illegal services.

Author: 

Toulas, Bill

Year: 

2023

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