A recently launched dark web marketplace known as STYX is quickly gaining popularity among buyers and sellers of illegal services and stolen data. The site offers an extensive range of illicit services such as money laundering, identity theft, DDoS attacks, bypassing 2FA, and renting malware, among others.
STYX also boasts a built-in escrow system to facilitate secure transactions between buyers and sellers.
According to experts at Resecurity, mentions of STYX were already circulating on the dark web as early as 2022 when the founders were still developing the escrow module. STYX accepts payment in multiple cryptocurrencies and includes a special section dedicated to trusted sellers who are thoroughly vetted to increase trust in the platform.
Everything against the law is in STYX
Resecurity’s researchers have compiled a report on STYX, highlighting various cases they discovered while exploring the site to raise awareness about the risks associated with illegal platforms and the true extent of cybercrime. Among other things, The site offers tools for bypassing anti-fraud filters, stolen credit card and PII data, fake ID services, flooding services, money laundering services, and tutorials on hacking and cybercrime operations.
The money laundering section on the site is particularly significant, as it is crucial for the cybercriminal activity of “cleaning” the stolen funds. Resecurity identified a group of vendors offering money laundering services through STYX, with fees ranging from $15,000 for individuals to $75,000 for businesses.
The site also features numerous cash-out shops covering the entire world, offering “clean” funds via Apple Pay, PayPal, and various financial institutions in the U.S., U.K., and Canada.
The emergence of STYX as a new platform for financially-motivated cybercriminals demonstrates that the illegal services market continues to be a profitable business. To combat this, digital banks, payment platforms, and e-commerce systems must upgrade their KYC checks and fraud protections to reduce the effectiveness of services sold on these platforms. With the disruption of the Genesis Market, STYX may see an increase in customers looking for compromised accounts and personal information.
Even a big Youtuber like Linus Tech Tip, who gives tech advice, can be hacked. So we recommend you to be careful in cyberspace.
