back to article Fraud shop OVERSTOCKED with stolen credit cards

Infamous carding store is so chock-full of stolen credit cards from recent high-profile breaches that it's gutting its prices due to overstocking. The fire sale makes a mockery of the security in place at some of the world's biggest retailers, many of which have in recent months been invaded by hackers who have …

  1. Gene Cash Silver badge

    Chase has gotten jumpy

    They've denied a couple recent transactions with an instant "did you do this?" email. With my phone, I can click yes and have the store resubmit it, but it's quite the bother.

    They need to charge the hacked corporations some really big bucks to encourage better security. As it is, there's no real downside to the retailers from being hacked, other than pissing their customers off, and what US retailer cares what their customers think?

    The Home Depot statement to the SEC regarding the impact of the hack on their stock was basically "people will get used to it, there won't be a big impact"


  2. Voland's right hand Silver badge

    This will be interesting to watch

    Ukraine's has pervasive top-to-bottom corruption. This is something that does not change regardless of which gang is in charge - Kutchma, PM*LF, Russian Marionnettes, USA Marionettes - they are all the same as far as "anything and anyone can be bought" is concerned.

    This has resulted in most of Eastern European cyber (and conventional) crime (including a lot of the Russian syndicates) relocating their operations there. As recently as 3-5 years ago most of Eu electronic and card fraud ran through Romania and Bulgaria. Found an ATM skimmer on your street cash machine? It was nearly guaranteed to be of made in Balkans (TM). Some of them were technoglogical gems too - remote operation via bluetooth, authentic full fascia to fit on top of a standard NCR so it does not look out of place, etc. Well - not any more - a lot of that has moved to Ukraine. The same is happening with Russia - as more and more of the black market goes legit and needs legit and working banking services, the syndicates try to move to more permissive neighbouring countries. Add to that the remnants (a lot of it is in the USA now) of the traditional mob fostered by decades of special restrictions on minorities access to professional career and education introduced by Stalin (the so called Odessa mob) and you have a very interesting picture.

    IMHO, this makes the Eu association idea particularly interesting. Is the Eu ready to associate itself with that and how it will deal with that. I am not sure they are aware of the can of worms they just opened. They cried wolf for 10 years about Bulgaria being run by the mob. Well... Compared to Ukraine, most Bulgarian mobsters are bunch of "Chavdarcheta" (the BG socialist equivalent of a boyscout).

    1. davemcwish

      Re: This will be interesting to watch

      It's realpolitik in this case my enemy's (Russia) enemy (Ukraine) is my friend.

  3. Anonymous Coward
    Anonymous Coward

    I just wonder....

    ...if the banks could (or do) buy these lists and then could revoke the cards? It would be an major inconvenience to the card holder, but not as much as you finding your card is refused not because it's been revoked, but because your bank account is empty.

    1. Owain 1

      Re: I just wonder....

      Maybe they do.....

    2. Donkey Molestor X

      Re: I just wonder....

      Wonder no longer! In at least one of the recent Krebs articles he says that some of the FIs absolutely DO engage in list buybacks.

  4. Tony Luck

    Odd strategy

    Hmm. Have appalling security so tens of millions of cards get stolen. Now prices for stolen cards are plummeting, so perhaps it won't be worth the time & effort to steal more.

    1. Swarthy

      Re: Odd strategy

      Alternatively, it is only worth it to steal 'em in large batches.

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