Genesis Market, one of the world’s largest illicit online marketplaces, was shut down this month following a coordinated international law enforcement operation known as “Operation Cookie Monster.”

The crackdown—led by the US Federal Bureau of Investigation (FBI) and the Dutch National Police, with support from more than a dozen agencies worldwide—resulted in the seizure of hundreds of thousands of stolen identities and online access credentials. Authorities confirmed that the operation also led to over 100 arrests globally, dealing a significant blow to the cybercrime ecosystem.

“Through the combined efforts of all the law enforcement authorities involved, we have severely disrupted the criminal cyber ecosystem by removing one of its key enablers,” said Edvardas Šileris, Head of Europol’s European Cybercrime Centre.

Enabling Global Attacks

Beyond consumer fraud and identity theft, Genesis Market sold access linked to financial institutions, critical infrastructure, and government agencies, according to authorities. The data was frequently purchased by ransomware groups and advanced cybercriminals, who used it to infiltrate and exploit networks worldwide.

In 2021, hackers reportedly breached the network of a US company using stolen data and source code obtained through Genesis Market, according to the US Treasury. Officials also said the platform had been used to target US government systems.

“Our seizure of Genesis Market should serve as a warning to cybercriminals,” said US Attorney General Merrick Garland. “The Justice Department and our international partners will shut down your illegal activities, find you, and bring you to justice.”

The Need for Global Cooperation

The takedown underscores growing calls for stronger international collaboration to combat cybercrime.

Speaking at the World Economic Forum’s Annual Meeting 2023 in Davos, INTERPOL Secretary-General Jürgen Stock emphasized that cybercrime requires a “global response” and coordinated enforcement across borders. “The key to winning the battle against cybercrime is to work together—across geopolitical fault lines,” he said.

Experts also stress the importance of vigilance among public and private organizations.

“As the global cost of cybercrime continues to rise, governments and businesses must strengthen defenses and collaborate internationally to disrupt criminal networks,” said Gretchen Bueermann, a Research and Analysis Specialist at the World Economic Forum’s Centre for Cybersecurity.

The Forum launched its Partnership Against Cybercrime initiative in 2020 to promote public-private cooperation. Its Global Cybersecurity Outlook 2023 notes that professionalized cybercriminal groups continue to expand and develop new attack methods at scale.

“	The takedown of Genesis Market is an important step in the fight against cybercrime, but it is only one battle in a larger war.	”
– Gretchen Bueermann, World Economic Forum Centre for Cybersecurity