US Treasury sanctions cybercrime marketplace Genesis Market

By Ovunc Kutlu

ISTANBUL (AA) - The US Treasury Department announced Wednesday it imposed sanctions on Genesis Market for its part in the theft and sale of device credentials and related sensitive information.

"Genesis Market operates a criminal marketplace and is believed to be located in Russia. It has both a clearnet (traditional internet) and a darknet presence and is one of the most prominent brokers of stolen credentials and other sensitive information," it said in a statement.

The agency said Genesis Market, one of the world’s largest illicit marketplaces, identifies victim computer systems, gains unauthorized access to victim devices and offers stolen data for sale to cybercriminals for further exploitation.

Stolen data from victims include usernames, passwords, computer and mobile device identifiers, email addresses and other credentials.

There were approximately 460,000 packages listed for sale on Genesis Market as of Feb. 1, with each package representing a single victim computer or device.

"The United States, along with our international partners, will not allow illicit marketplaces to operate with impunity," said Under Secretary of the Treasury for Terrorism and Financial Intelligence Brian E. Nelson.

"As a result of today’s action, all property and interests in property of the entity that are in the United States or in the possession or control of U.S. persons must be blocked and reported to OFAC,” according to the Treasury Department. “In addition, persons that engage in certain transactions with the entity designated today may themselves be exposed to sanctions.”

Europol also announced Wednesday a law enforcement operation involving 17 countries that took down Genesis Market, while its illegal service was shut down and its infrastructure seized.

"Unlike other criminal marketplaces, Genesis Market was accessible on the open web, although obscured from law enforcement behind an invitation-only veil. Its accessibility and cheap prices greatly lowered the barrier of entry for buyers, making it a popular resource among hackers," according to the agency.

"Simultaneous actions were also carried out across the globe against the users of this platform, resulting in 119 arrests, 208 property searches and 97 knock and talk measures," it added.