Security News > 2023 > April > Resecurity uncovers STYX, new cybercriminal platform focused on financial fraud

Resecurity has recently identified the STYX Innovation Marketplace, a new cybercriminal e-commerce platform with a specialized focus on financial fraud and money laundering.

This platform is specifically designed to facilitate financial crime, providing cybercriminals with a range of services, including stolen financial data, credit card information, forged documents, money laundering services, victim reconnaissance 'lookups', and more.

The discovery of STYX coincides with Resecurity financial crime risk analysts observing a significant increase in threat actors offering money-laundering services that exploit digital banking and cryptocurrency accounts.

Typically, these tactics are used in the furtherance of online-banking account takeovers and credit card theft, with commissions for successful cash-outs ranging from 40% to 70%. Resecurity found that STYX has been operational for several months already, capturing a significant following in reputable cybercriminal communities in the process.

The discovery of STYX is significant because it highlights the importance of cybersecurity for the financial sector.

In closing, Resecurity's discovery of STYX represents a major breakthrough in the fight against cyber-enabled financial crime.

News URL

https://www.helpnetsecurity.com/2023/04/06/resecurity-uncovers-styx-cybercriminal-platform/