This is how Joker’s Stash, the largest website for stolen cards, worked
Joker’s Stash became the largest of the stolen credit and debit card sites on the dark web (an encrypted network that requires programs or special access authorization).
According to the cybersecurity company ‘Elliptic’, They based their crime on credit and debit card details that are stored in computer systems.
This data was then used to purchase gift cards or other exchangeable items of value, which were then sold again for cash.
(You can read: ‘They hacked’ chastity belts and ask for bitcoins to deliver.)
This form of scam is known as ‘carding’ and has become a key move by cybercriminals.
The criminal behind the page, known as ‘JokerStash’, not only used ‘carding’ to steal, it also helped ‘launder’ and remove cryptocurrencies obtained through other cybercrime.
Since its inception in 2014, the site was the largest online vendor of stolen credit cards and identity data.
‘Elliptic’ also warned that it raised in this time almost 400 million dollars (approximately 1.4 billion pesos), with annual sales that reached a maximum of 139 million dollars (490 billion pesos) in 2018.
The following years, sales fell due to increased security in card payments, in addition to anti-fraud technology that makes it difficult to buy with stolen cards.
(You may be interested: Be careful, this way you can take care of your privacy online and avoid headaches).
This could be a compelling reason to justify the withdrawal of ‘JokerStash’ on February 3.
Although it is intuited that he was additionally seriously ill with covid-19 in October 2020 and, in December, the FBI announced the seizure of the site’s domains.
Another possible reason may be that the criminal has made so much money, is that he just wants to retire quietly, if the FBI and Interpol do not reach him.
How big is your profit?
According to ‘Forbes’ magazine, the Joker’s Stash page made its money by charging deposit fees for converting Bitcoin to a dollar balance.
In addition, he took a commission for each transaction of the stolen cards. The rate is still unknown with precision, although, based on similar businesses, ‘Elliptic’ assured that it is on average 20%.
Taking this into account, he would have taken a total of at least 60,000 bitcoins, which today is worth 2.5 billion dollars (almost 9 trillion pesos).
With this multi-million dollar sum, ‘JokerStash’ voluntarily retired, without any capture and with a smile equal to that of the real Joker.
(Read on: Bitcoin surpasses $ 48,000, following Tesla’s bet on crypto.)