The role of the Dark Web in the trade of stolen passwords

Passwords are highly attractive to cybercriminals as they serve as the gateway to systems and critical information, such as bank accounts.

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This makes password theft one of the most significant cybersecurity challenges globally. In July 2024, the largest collection of leaked passwords to date was reported. Known as "RockYou2024," it contained nearly 10 billion unique plain-text passwords.

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While the exact number of compromised passwords in 2024 remains uncertain, the scale of this breach highlights the severity of the problem.

Why are passwords so valuable to cybercriminals?

Passwords are the key to accessing systems and IT infrastructures for illicit or malicious purposes.

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Some common malicious uses include:

• Accessing bank accounts: Transferring funds, making fraudulent purchases, or accessing sensitive financial information that could compromise businesses.
  
  
• Credential stuffing attacks: Using the same password across multiple accounts and websites, exploiting the tendency to reuse credentials.
  
  
• Spear phishing attacks: Similar to phishing, spear phishing targets specific individuals to obtain confidential data. These attacks often include a link redirecting victims to a fake website where they are prompted to provide personal information.
  
  
• Extortion: Cybercriminals may demand payment (often in Bitcoin) in exchange for not releasing sensitive information, such as medical records, as seen in the cyberattack on Hospital Clínic in Barcelona.
  
  
• Identity theft: Using stolen information to impersonate someone for fraudulent activities, such as applying for credit cards or loans.
  
  
• Dark web sales: Selling stolen passwords on the Dark Web, where they can be used by other cybercriminals for additional fraud.

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Consequences of a password ending up on the Dark Web

One of the most alarming consequences of stolen passwords is their sale on the Dark Web.

This illicit trade has surged, especially as more businesses refuse to pay ransoms demanded by cybercriminals. Many organizations now recognize that paying a ransom does not guarantee the recovery of stolen information, pushing criminals to sell the data instead.

On the Dark Web, sellers often provide details such as email addresses, passwords, and additional information (e.g., credit card numbers) to increase the value of their offerings. Prices vary based on the account's significance (e.g., banking vs. social media) and difficulty of access.

These underground markets operate on encrypted networks and use cryptocurrencies to maintain anonymity, making them difficult to trace. Additionally, tools like “Password Dumpers” and “Credential Stuffing Tools” are sold to test these stolen credentials across various platforms.

How to prevent your business passwords from ending up on the Dark Web

Implement robust cybersecurity measures to protect against password theft and data breaches.
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Employee education, awareness, and training are crucial to avoid human errors that could compromise your information.

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Additionally, implementing multifactor authentication (2FA) for accessing your accounts is essential to alert you to fraudulent login attempts.

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On the other hand, using managed cybersecurity services ensures that systems are monitored 24/7 to address any security breaches or vulnerabilities that could allow malware to enter.

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Keep software and systems up to date to reduce vulnerabilities that could provide unauthorized access.

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Implement policies that require regular password changes and avoid the reuse of old passwords.

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Ensure that passwords are stored encrypted in systems, ideally with secure hashing algorithms (such as bcrypt or Argon2).

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Use WWatcher, a cybersecurity tool that prevents data leaks and internal information theft in businesses in the event of password theft.

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By following these steps, you can reduce the chances of your company's passwords ending up in unwanted hands or on the Dark Web.

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