Sony Security Problems Could Hurt Hackers Too

As hard as it is to believe, hackers may actually suffer from Sony’s massive security breach that has seen 102 million users worldwide compromised. According to a New York Times Bits blog report, the massive amount of credit card numbers being flooded into the lucrative black market could bring the price of illegal credit card sales down dramatically.

According to the NYT, hackers who resell personal info and credit cards do not look kindly on what will happen if those responsible for Sony’s security breach decide to sell all of it on the black market. Typically stolen credit card numbers sell for around $5 – $10 each (according to an anonymous source familiar with the black market). If millions of new card numbers flood the market, it could bring the value down to a paltry $1 – $2 each.

"We’re keeping a close eye on the Sony story as it would drastically affect the resale of other cards," an experienced hacker based in Europe who declined to share his name due to the nature of his work told the NYT.

Kevin Stevens, a senior threat researcher at Trend Micro, said in an interview last week that there is a lot of discussion in hacker forums about the Sony data breach. Several "credit card dealers" expressed concern that the influx of millions of credit cards would flood the market and lower prices, he said.

I would like to say that I feel bad for these people, but I don’t. It should also be noted that buying this data right now would be like buying the Mona Lisa a day after it was stolen. In other words: many eyes are watching all over the world.

Source: NYT by way of Kotaku

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  1. 0
    Abbie says:

    Hackers are just regular criminals. We tend to think of them differently just because they're smart! But just because they CAN do something we can't doesn't mean they SHOULD. I don't feel sorry for them!

  2. 0
    Overcast says:

    Thank gosh I only used re-loadable cards at SoE. And well, just about anywhere.

    I have no debit card attached to my bank account, lets me sleep easier at night.

  3. 0
    JoshuaOrrizonte says:

    Money laundering, keeping it in cash, if they’re smart they invest it in little increments to make it appear that they’re using their own money to invest and such.

    Not that I think that’s gonna help them, mind. This has made a huge enough deal that I think whoever is behind this is going to be be dogged hard by law enforcement.

  4. 0
    Chris Kimberley says:

    If they’re smart, I imagine they move to a tropical country with no extridition treaties to speak of before anyone notices.  Removes that need to explain anything.


    Chris Kimberley

  5. 0
    Monolith says:

    I wonder how someone who sells millions of dollars worth of stolen credit cards explains how they’re suddenly a millionare. Do they just say they won the lottery?

  6. 0
    hellfire7885 says:

    Hehe, if it completely ruined that market I’d call it a win. Not to mention with who Sony is working with a crackdown could be coming.

  7. 0
    Craig R. says:

    Well, this article certainly wasn’t what I thought it was going to be.

    My first thought at this article’s title? It’s going to turn up the brightness of the spotlight that is on hackers, in that there’s going to be more pressure to go after hackers of all kinds who break into systems illegally.

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