Description

BogusBazaar, a vast network of 75,000 fraudulent online stores, dubbed 'BogusBazaar,' has scammed over 850,000 individuals in the US and Europe, resulting in an estimated $50 million in fake orders. German cybersecurity firm Security Research Labs GmbH (SRLabs) revealed that the operation, active for three years, primarily targeted victims in the United States and Western Europe, while notably sparing those in China, potentially its operational hub. BogusBazaar operates through over 22,500 active fake webshops, often hosted on previously reputable domains that have expired. These sites, typically posing as outlets for discounted apparel and footwear, are semi-automatically generated with tailored names and logos to enhance credibility. Payment pages either harvest sensitive information or conduct fraudulent transactions via platforms like PayPal and Stripe. The operation follows an 'infrastructure-as-a-service' model, with a core team managing infrastructure and a decentralized network of franchisees overseeing individual fraudulent shops. The core team focuses on developing fraudulent software and deploying backends, while franchisees manage daily operations using tools provided by the core team. Though managed from China, most BogusBazaar servers are in the US, each hosting hundreds of webshops shielded by Cloudflare for anonymity. SRLabs has shared relevant URLs and IoCs with authorities and advocates consumer vigilance, recommending checks for contact information, return policies, trust seals, website quality, and social media presence. Consumers are advised to scrutinize webpages for signs of haste or professionalism, consult online reviews, monitor consumer protection agencies, and utilize available online verification tools. By adopting these precautions, consumers can navigate online shopping more securely and reduce the risk of falling victim to fraudulent schemes like BogusBazaar.