Threat intelligence experts warn that a double-digit increase in deep web and dark web ads and sellers promoting counterfeit currency last year suggests increased demand from the criminal community.
According to Cybersixgill, 2022 will see a 91% year-over-year increase in posts on monitored sites and an 82% increase in the number of unique sellers.
Vendors argued that advances in technology could give the top-ranked firms an advantage. The top 10% of sellers are responsible for his 80% of listings, the company said.
“The significant increase in the supply of counterfeit currency and the growing number of suppliers may be a result of the spread of advanced printing technology and technology, which makes it easier for more parties to We can now create convincing counterfeits,” the report notes.
“For example, a man in Massachusetts was recently sentenced to prison after printing over $400,000 in counterfeit bills in a home operation using an inkjet printer.”
This theory is supported by another finding in the report, namely the decline in feedback provided to fake currency sellers.
“Feedback to these listings has dropped by about 53% despite an overall increase in fake currency being promoted underground,” the report revealed.
“Assuming that customers are more likely to write feedback when they are dissatisfied with a transaction, the inverse relationship between posts promoting counterfeit money and feedback on these posts suggests that customers It suggests that you are more and more satisfied.”
Despite the fact that cryptocurrencies are often tied to cybercrime, traditional cash still appears to be a major source of criminal activity. Cybersixgill claims that the surge in supplies over the dark web may be due to criminals trying to fund their schemes.
“The flood of underground posts promoting counterfeit currencies demonstrates the enduring relevance of cash despite the rise of digital currencies,” it concluded. “Unfortunately, the ultimate victims of money counterfeiting are stores, local businesses and individuals who accept cash payments.”
