US law enforcement has seized control of 145 darknet and internet domains, as well as cryptocurrency assets, connected to BidenCash, a platform notorious for trading stolen credit card information and related personal details, according to the US Attorney's Office for the Eastern District of Virginia. The marketplace reportedly generated $17 million in revenue, catering to over 117,000 clients and exchanging more than 15 million payment card numbers since its inception in 2022, with additional personal data such as home addresses and phone numbers being traded. The US has intensified its efforts to curb cryptocurrency-related illicit activities, with the reintroduction of the Financial Technology Protection Act in the House of Representatives in March.
A recent report by Chainalysis indicates a significant rise in cryptocurrency-related criminal activity, with $40 billion received by illicit addresses in 2024, a figure expected to increase this year. The US Secret Service's Frankfurt Resident Office, the Cyber Investigative Section, and the FBI Albuquerque Field Office were also involved in the investigation.