iscover
Share this article on:
Powered by
MOMENTUM
MEDIA
The West Australian man bought multiple sets of stolen credentials from the now-defunct Genesis Market and racked up an impressive list of crimes – and debts.
An AFP cyber crime investigation has led to the arrest and now conviction of an Australian man guilty of buying a raft of stolen credentials from a dark web marketplace before using them to commit a range of fraud-related offences.
The West Australian man was charged after being linked to several purchases of the Genesis Market dark web marketplace, which was shut down by an FBI-led investigation in April 2023.
The man stripped $17,500 from a super fund and other bank accounts from a couple and opened several bank accounts in the name of another man while also racking up mobile phone debts and naming him as the owner of a car involved in four traffic infringements.
According to police, the 36-year-old man had been accessing 20,000 sets of stolen credentials on Genesis Market – targeting specific details that would allow him to access banking and financial websites. He was also found to be in possession of Australian customer data stolen in a ransomware attack.
The man was charged in May 2023 after being identified as a Genesis Market customer and pleaded guilty in October 2023 to four crimes related to cyber fraud and two other offences relating to submitting false information in a passport application to create an assumed identity. The latter two charges stem from an investigation by the Department of Foreign Affairs and Trade.
The perpetrator was sentenced by the Perth District Court on 16 April and will serve a two-year prison sentence with a 17-month non-parole period.
AFP Detective Inspector Andrea Coleman said in a statement that identity theft can lead to serious, long-lasting consequences for its victims.
“It can damage their credit ratings, impacting their ability to apply for loans or employment,” Detective Inspector Coleman said.
“Today’s outcome is a reminder that the darknet is not anonymous, and those who use it to profit at the expense of other innocent members of our community will be caught and prosecuted.
“The AFP, with the support of our national and international partners, is working tirelessly to stay a step ahead of cybercriminals.”
The arrest and sentencing of the West Australian man is just the latest in a string of Australian arrests following the Genesis Market shutdown.
A 32-year-old Victorian man was sentenced to a 12-month community corrections order and community service in January 2024 for purchasing stolen data and credentials on a popular dark web marketplace, while a Brisbane man copped a two and a half years prison term in December 2023 for buying stolen credentials from the market.
David Hollingworth has been writing about technology for over 20 years, and has worked for a range of print and online titles in his career. He is enjoying getting to grips with cyber security, especially when it lets him talk about Lego.
Be the first to hear the latest developments in the cyber industry.
