The dark web’s stolen data economy has suffered another major setback following the seizure of SSNDOB, one of the most prolific online vendors of stolen identity information. The Federal Bureau of Investigation (FBI) confirmed the takedown, revealing that the platform had facilitated more than $19 million in cryptocurrency transactions tied to illicit sales.

According to the US Department of Justice, SSNDOB trafficked the stolen personal data of approximately 24 million victims, including names, dates of birth, and Social Security numbers. The operation was shut down on June 7, following coordinated efforts between US authorities and law enforcement agencies in Latvia and Cyprus.

SSNDOB operated within the underground “carding” ecosystem, where cybercriminals acquire credit card details and personal data by hacking databases or deploying malware to skim payment information from point-of-sale terminals. This data is then resold on illicit marketplaces—often for as little as $3 per record—allowing buyers to commit identity fraud or make unauthorized purchases.

A Market in Steep Decline

The seizure of SSNDOB marks yet another blow to an already struggling stolen data market. Since the apparent “retirement” of major carding platform UniCC in January 2022, vendors accounting for nearly **60% of the market—worth an estimated $1 billion—**have either shut down, exit-scammed their users, or been seized by authorities.

Analysis by blockchain intelligence firm Elliptic shows that what was once a highly profitable criminal industry is now fighting to survive. Since 2013, stolen data vendors have generated at least $1.6 billion in Bitcoin, openly selling credit card numbers, stolen IDs, fake passports, compromised login credentials, and privacy-enhancing tools across dark web markets, forums, and Telegram channels.

What Went Wrong?

The unraveling began in early 2022. Between January 12 and February 9, several of the largest carding sites— including the top five by Bitcoin revenue—either vanished or were seized. Some platforms, such as C2Bit and All World Cards, abruptly disappeared with customer funds in classic “exit scams,” likely spurred by arrests and seizures carried out by Russia’s Federal Security Service (FSB) in February.

Other platforms fared differently. BriansClub, a prominent marketplace, temporarily went offline before resurfacing without explanation. By March, Russian authorities reportedly seized an additional 90 smaller carding sites.

At the time, the closed or seized platforms controlled over 85% of the global stolen data trade. Observers on social media described the mass shutdowns as the “likely death of the carding scene.”

The downfall of Hydra, once the largest dark web marketplace with over $5.1 billion in Bitcoin transactions, further accelerated the decline. Hydra—also a seller of stolen data—was seized by German authorities in April.

Paranoia, Price Hikes, and Trust Collapse

What remains of the stolen data market is now riddled with distrust and paranoia. Bitcoin payments linked to stolen data purchases have fallen by more than half since November 2021, dropping from over $43 million to just $19.3 million by March 2022.

The vacuum left by major vendors has encouraged a flood of low-quality newcomers attempting to replace them. Many rely on flashy branding to attract attention. One such platform, BidenCash, entered the market in April 2022, mimicking tactics used by the now-defunct “Trump’s Dumps” by using the likeness of a sitting US president in its branding. It has since become an “official sponsor” of a major illicit carding forum.

Despite these efforts, new vendors have struggled to gain trust. Forum discussions reveal widespread suspicion, with users quick to label new platforms as scams and complain about poor-quality or “dead” data—records that have already been canceled or rendered useless.

Economic pressures have also taken their toll. Batches of personal identity data that sold for around $20 in December are now priced closer to $36, further alienating buyers.

A Fading Criminal Enterprise

Taken together, the steady stream of seizures, exit scams, declining transaction volumes, rising prices, and collapsing trust suggests that the stolen data market is a shadow of its former self. The takedown of SSNDOB reinforces a broader trend: the once-dominant carding ecosystem is no longer thriving, and a return to its peak profitability appears increasingly unlikely as its fight for survival continues.