The Ins and Outs of the Black Market Economy
March 24, 2015
The article titled The Cybercrime Economy: Welcome To The Black Market of The Internet on ZeroFox discusses the current state of the black market and the consequences of its success. The author delves into the economy of the black market, suggesting that it, too, is at the mercy of supply and demand. Some of the players in the structure of the black market include malware brokers, botnet “herders,” and monetization specialists. The article says,
“So what’s the big deal — how does this underground economy influence the economy we see day to day? The financial markets themselves are highly sensitive to the impact of cyber crime… Additionally, fluctuating bitcoin markets (which affects forex trades) and verticals that can be affected through social engineering (the Fin4 example) are both targets for exploitation on a mass scale….There is a good reason cyber security spending surpassed 70 billion in 2014: breaches are costly. Very costly.”
As for how to upset the economy of the black market, the article posits that “cutting off the head” will not work. Supply and demand keep the black market running, not some figurehead. Instead, the article suggests that the real blame lies on the monopolies that drive up prices and force consumers to look for illegal options.
Chelsea Kerwin, March 24, 2015
Stephen E Arnold, Publisher of CyberOSINT at www.xenky.com
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