Whatsapp and Black Market

Untill recently, black market meant dealings with drugs, arms and human trafficking. But here is a new digital version of black market. Dark web and deep web have always been the source of income for black marketers around the world. But with dark web slowly fading away and most of it’s servers and hosts taken down by the cybercrime companies and white hat hackers, black marketers are searching for new platforms for their business to continue. Fortunately, they got one. 

Whatsapp is now the primary source of communication for everyone. Even some of the business deals get closed on Whatsapp. However, there is also a darkside to Whatsapp. 

As reported by FactorDaily and some of the cybercrime experts, Whatsapp has become a new source of Black Market in India. With its end to end encryption in place, there is no way through which cybercrime experts can peep into the chats and groups of Whatsapp black market. 

How does it all happen?

According to FactorDaily, there are a lot pf Whatsapp groups out there which deal with OTP’s. Through these groups, you can buy one time paaswords from the black marketers for app based purchases which includes apps like uber and paytm. Not only this but a lot of IPL bettings have started through Whatsapp groups.

Who are these people?

The black marketers mentioned above are not professional hackers or techies but some sort of scammers who got their way through the loopholes of the systems. They use these loopholes to get the OTP’s and sell them to the users of the mobile applications to avail offers, cashbacks and rewards. It’s a known fact that OTP’s are secure way of transactions. But it is also known that people use different mobile numbers to get OTP’s. However, it is known to only a few that id you know the path through which OTP’s travels, then you can easily get your hands on them. These scammers do exactly the same thing.

How to catch and stop them?

Because of Whatsapp’s end to end enxryption and because all the message are stored in the device and not in any server, it has become almost impoasible to stop them. 
The other way you can catch them is through getting to know the mobile numbers of the scammers and trackong them down. However, scammers mostly do not use the numbers provides by the telecom operators. Instead, they use virtual numbers randomly generated by some software. This way both the mobile number and location stay anonymous and they’re safe.

Where does it happen?

These kind of transactions usually do not happen in the official play store version of Whatsapp. Instead, they happen through the side loaded apk versions of  Whatsapp. Side loading is the process of installing android applications not through play store but through the apks available online. People do this to enjoy the full versions of the applications but scammers have taken it to a new level. Some of the whatsapp versions are gold versions and blackmart versions. 

Some of the scammers in these groups might also be frauds who take the money and give you fake OTPs which do not work. Hence, I suggest you to dtay away from them.
Although this issue is at its roots its better to not get into all of these because cybercrime experts come up with a feasible solution and put you behind the bars.

I am open for any discussions about this. Please comment your views or you can always contact us here.

Source: FactorDaily.

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