THE DARK WEB ECONOMY BOOM
While some of us are grasping at straws as a result of the economic impact of the coronavirus pandemic, trying to keep business alive and do more with less, one enterprise is thriving – the dark web economy. Cybercrime shows no signs of slowing down and employment opportunities on the dark web are booming. For job-hungry cybercriminals that’s great news. But it’s news of the worst sort for your business.
HACKERS FOR HIRE
In the last year, the dark web economy has undergone a major transformation in terms of profitability for hackers, both experienced and inexperienced. There is an unprecedented demand for skilled cybercrime work and experts claim that that 90% of posts on popular dark web forums are from buyers looking to hire somebody someone for hacking services. 69% are looking for website hacking while 21% want cybercrooks with skills to obtain specifically targeted user or client databases. Here are some typical posts:
- “I need a site hacker for $2,000.”
- “Break this site for $10K.”
- “Can you collect information from our competitors’ websites?”
- “Can you delete reviews? Budget $300.”
HACKERS LOOKING FOR WORK
About 7% of dark web forum posts are ads by hackers looking for work. Some hackers have a very specialized skillset, like specialists in social media scams or brand impersonation campaigns. Advertising their services uniquely helps them find better-paying work. Vadim Solovyev, a senior information security analyst, claims that interest has intensified remarkably following the pandemic and our era of remote working. He says:
“We looked at hacking services that would present a threat to the security of corporate websites or web applications. We have noticed a surge of interest in website hacking.”
NOT SMALL POTATOES
Not that any of us would go down this route, but there is money to be made on the dark web. So, how much do hackers earn? Buyers will pay anything from $50 to $2,000 for hacked databases from e-tailers, this being the most popular form of dark web employment. For hacking a high-traffic website, you could earn as much as $10,000. Boutique hacking, which involves accessing a custom database, pays premium rates of up to $20,000. That’s not small potatoes.
HOW REAL IS THE DANGER?
Silly question! The danger is very real. Remember that 60% of businesses cease to exist after a serious cyberattack, so these dark web marketplaces do not bode well for your business.
MY DARK WEB PRESCRIPTION
But there is a solution for you to protect and secure your data and systems from this evolving threat. While I’m not a doctor, I like to think of myself as an IT physician. Here’s my prescription to mitigate dark web threats:
- Deploy 24/7/365 always-on dark web monitoring with immediate alerts.
- Enforce multi-factor authentication to protect your valuable data and which stops approximately 99% of password-based cybercrime in its tracks.
- Protect your business from phishing by training your employees so that they are always aware of the latest threats
DEP – DEPLOY ENFORCE PROTECT
With over 20 years of experience in professional business IT, I will make sure that your DEP strategy right. Together, we’ll spot the dark web danger. Together we’ll stop it!