The US Department of Justice announced the seizure of 145 domains and an undisclosed amount of cryptocurrency linked to BidenCash, a prominent dark web marketplace involved in selling stolen credit card data and personal information.
Dark Web Marketplaces Under Crackdown
BidenCash, launched in March 2022, rapidly grew to over 117,000 users and facilitated the sale of more than 15 million stolen payment card numbers. It also traded compromised login credentials for unauthorized access to computer systems.
Law Enforcement Operations Target Crypto-Linked Cybercrime
The operation, led by the US Secret Service’s Frankfurt Resident Office, FBI’s Albuquerque Field Office, and the Cyber Investigative Section, aimed at disrupting BidenCash’s infrastructure and financial flows. The seized domains are now redirected to law enforcement-controlled servers.
Authorities also obtained court authorization to seize cryptocurrency funds associated with BidenCash’s illicit activities, although the exact amount remains undisclosed. These measures reflect broader US efforts against dark web-based crypto crime networks.
BidenCash's Scale and Impact
During its operation, BidenCash generated over $17 million in revenue and was used extensively for trafficking stolen credit card data. Between October 2022 and February 2023, it released 3.3 million stolen credit card records for free to attract cybercriminals. The platform’s success underscores how dark web markets leverage cryptocurrencies to facilitate illegal transactions securely and anonymously.
Broader Dark Web Enforcement Efforts
This seizure adds to a series of recent law enforcement actions targeting crypto-enabled darknet platforms. For instance, Operation Raptor dismantled multiple drug trafficking sites with $200 million in assets seized across ten countries in May. Similarly, the US sanctioned operators of the now-defunct Nemesis marketplace, which received over $850,000 in bitcoin and Monero transactions between July 2022 and March 2024.
Cryptocurrency's Role in Darknet Ecosystems
Despite regulatory advances, the report notes that Russian-language darknet markets continue to dominate due to low enforcement risk in Russia. Darknet marketplaces generated over $1.7 billion in revenue in 2024 alone, highlighting the persistent scale of crypto-facilitated crime globally.
Implications for Crypto Regulation and Security
As authorities intensify their crackdown on illicit crypto activities, industry stakeholders emphasize the importance of enhanced compliance frameworks and cybersecurity measures. The BidenCash case demonstrates how cryptocurrencies remain integral to cybercriminal operations but also how targeted enforcement can disrupt these ecosystems effectively.
