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: In contrast, 83% of "card-not-present" data (used for online shopping) was sold, indicating it is in much higher demand and shorter supply.
: Buyers often paid more for cards from specific banks they perceived as having weaker fraud countermeasures . How the Underground Market Operates buy stolen credit card numbers online
The primary research paper on this topic is presented at the USENIX Security Symposium in 2021. : In contrast, 83% of "card-not-present" data (used
This study is particularly interesting because it uses leaked data from a major underground shop to reveal the actual finances and business models of the "carding" world. Key Findings from "Swiped" This study is particularly interesting because it uses
: The analyzed shop earned roughly $104 million in gross revenue over four years.
: The shop listed over 19 million unique cards , but customers only bought 40% of the magnetic stripe data (used for physical counterfeit cards).
Research from various sources, including Michigan State University and F-Secure , details the mechanics of these marketplaces:
