The announcement came from the US Attorney’s Office for the Eastern District of Virginia, detailing the culmination of a coordinated investigation into a platform that had facilitated the sale of stolen credit card data and personal information to thousands of users.
The marketplace reportedly accumulated more than 117,000 users and was responsible for the distribution of over 15 million compromised payment card numbers. The DOJ stated that BidenCash administrators collected fees on transactions and earned over $17 million in revenue during its run.
As part of the enforcement effort, authorities obtained court approval to seize cryptocurrency funds that were used by BidenCash to facilitate the exchange of illicit goods and services.
Moving forward, the seized domains will be redirected to law enforcement-controlled servers, preventing further access or use. The investigation also revealed a promotional tactic used by BidenCash: between October 2022 and February 2023, the platform published 3.3 million stolen credit cards free of charge to encourage wider usage of its services.
Officials involved in the announcement included US Attorney Erik S. Siebert, Special Agent John Szydlik of the US Secret Service, and Acting Special Agent Philip Russell of the FBI.
The operation marks a continuation of US federal efforts to dismantle cybercriminal infrastructure operating on the dark web and to disrupt illegal marketplaces that rely on cryptocurrency for payments.
This takedown follows other notable actions against dark web platforms in recent years, including the closures of Hydra Market and AlphaBay.
Featured image created with DALL-E, Chart from TradingView
