Uber accounts are once again making news as they are being traded on the dark web.
However, this time round, hacked Uber accounts are being sold on the dark web at rates higher than that of stolen credit card details.
Unsuspecting Uber users are finding their accounts charged with phantom rides, that is, rides that they never took.
It was only a few months ago when news broke out that stolen Uber accounts were being sold for very cheap rates in the dark web.
When it was found out that this was possible only because passwords were being reused, Uber responded by tightening security using a two-tier authentication process.
Uber accounts were then being sold for as less as 40 cents per address from the $1 per account that the dark web vendors started with.
The prices of stolen Uber accounts further crashed after the company took steps to make changes in apps which significantly reduced the fraudsters’ chances to access users’ accounts.
The murkier online black markets has seen trades of varied stolen personal information, including bank account details, stolen credit card details, and even Netflix and PayPal account logins on the dark web.
Interestingly, these details were being sold at very cheap rates on these illicit marketplaces.
However, Uber user account details are purportedly being sold for $4 per account currently.
Though this price cannot be considered to be expensive, it is interesting to note that stolen Uber accounts are being sold for rates that are costing more than stolen credit card details and their value has grown by over four times in less than a year.
Stolen Uber accounts are purportedly fetching 18 times more price than stolen credit card identity details.
According to reports from Trend Micro, a security firm, the prices for stolen Uber accounts in the dark web has shown a considerable increase.
The average prices traded for Facebook logins is about $3 and a PayPal account login details with a $500 balance trades for $6.43.
A Netflix login was available for just as little as 76 cents.
Credit card holders’ details were being sold at an incredibly low price of just 22 cents.
Why Low Prices
The reason why credits cards are being sold for incredibly low prices on the dark web is because banks and other agencies have tightened their security systems so much in the wake of Internet frauds that stolen credit card details are almost useless in new hands.
What Does a Stolen Uber Account Mean
Stolen Uber accounts have been selling for increased prices on the dark web.
This is because of their high demand in the underground illicit marketplaces as the stolen users’ accounts are charged fraudulently into giving the users free rides on the taxis.
Unsuspecting Uber users are finding that ghost rides that they never took are being charged to their accounts.
Innocent account holders are revealing on social media accounts (like Twitter) as to how trips and tips on other continents were being charged to them.
One innocent victim recounted how his account was charged a 4.5 hour ride in South Africa when he did not live there at all.
Last year saw a fall in the prices of stolen Uber accounts after the company became wary of reports hacking their user accounts.
The company then introduced a multi-factor security/authentication system in some of the markets where they function.
However, in those markets where the new and stricter authentication system is not in use, stolen accounts can be used freely.
Many large corporations have been served a reminder to create stricter login and authentication norms for their clients.
Users have also been reminded to keep their logins and passwords with more protection and care.
Facebook and Netflix are purportedly working on more stringent security systems for their respective users.
It is also likely that these companies will also offer a two-tier authentication system for the protection of their users’ accounts and keep them from misuse by the dark web cybercriminals.
These systems would allow the company authorities to monitor their accounts regularly and alert the users in case of unusual or abnormal activity.
Security experts are also advocating corporate companies to introduce identification systems that use behavioral biometrics as the basis.
This would take into account factors such as the manner in which a user holds their phones, the size of their fingers/hands, and how much they press the phone screens.