Taking a cue from ransomware operators, the illicit online drug marketplace known as Incognito Market has initiated a campaign of extortion targeting both its vendors and buyers.
Users are being threatened with the exposure of their cryptocurrency transaction histories and chat records unless they pay a fee ranging from $100 to $20,000.
The homepage of Incognito Market was recently updated with a blackmail message from its owners, warning users that purchase records of vendors who refuse to pay will soon be made public.
The message boasts of having amassed years' worth of private messages, transaction information, and order details, which were supposedly never deleted as users were led to believe.
The situation has escalated after reports emerged that numerous users were unable to withdraw funds from their accounts.
Incognito Market, known for its trade in narcotics, is now facing a crisis as users fear being exposed as drug dealers.
This development mirrors the tactics of ransomware groups, which often employ double extortion techniques to pressure victims into paying.
The extortion fees vary depending on the vendor's level within the marketplace, with Level 1 vendors facing a $100 fee and Level 5 vendors being asked to pay $20,000.
Brett Johnson, a former cybercriminal, highlights the inevitability of exit scams in the darknet market scene, emphasizing that law enforcement intervention is often the only obstacle preventing such schemes.
This Cyber News was published on www.cysecurity.news. Publication date: Fri, 15 Mar 2024 17:13:05 +0000