BidenCash a darknet marketplace with more than 117,000 users has been shut down in a operation aimed at fighting computer tomfoolery.
On June 5, the US Attorney’s Office for the Eastern District of Virginia announced the seizure of 145 domains and an undisclosed amount of crypto linked to the marketplace.
This operation followed a court approved plan to target BidenCash’s infrastructure, which was used to sell stolen credit card data and personal information.
BidenCash was launched in March 2022 and quickly became a major player on the darknet. Over the course of its two years of operation, the platform traded over 15 million stolen credit card numbers and made more than $17 million in revenue.
The seized domains have now been redirected to a server controlled by law enforcement, effectively taking down BidenCash’s online presence.
In addition to credit card data, the marketplace sold stolen login credentials used to access computer systems without permission.
Investigators claim that BidenCash promoted its services by releasing 3.3 million stolen credit card records for free between October 2022 and February 2023.
The investigation was led by the US Secret Service’s Frankfurt office and Cyber Investigative Section, with support from the FBI’s Albuquerque Field Office.
Authorities also received help from international law enforcement and cybersecurity organizations, including the Dutch National High Tech Crime Unit, Shadowserver Foundation, and Searchlight Cyber.
As of the latest update, the total amount of cryptocurrencies seized has not been publicly disclosed.
Crackdown on Illegal Platforms
BidenCash is the latest in a series of darknet platforms shut down as part of the US government’s efforts to combat illegal activity, much of which involves the use of cryptocurrency.
For example, in May, Operation RapTor dismantled several darknet drug markets across ten countries, leading to 270 arrests and the seizure of $200 million in cash, crypto, and assets.
Earlier in March, US authorities targeted the operator of Nemesis market, a darknet market used for selling drugs, fake IDs, and hacking services.
The US Treasury blacklisted 44 Bitcoin and five XMR addresses linked to the operator, who had received over $850,000.
In April, the Treasury Department moved against the Cambodia-based Huione Group, proposing to cut its access to the US financial system. The group was accused of laundering billions in crypto related to cyber scams, North Korean operations, and human trafficking linked online marketplaces.
Last year, the FBI arrested Rui-Siang Lin, the alleged operator of Incognito Market, a $100 million darknet marketplace. Authorities tracked illegal crypto transfers using blockchain forensics and KYC data from exchanges, which led to Lin’s arrest at JFK Airport.
According to TRM Labs, darknet marketplaces processed more than $1.7 billion in crypto transactions in 2024 alone.
