A veteran hacker with over 30 years of experience on the dark web recently shared his incredible story. Once a hacker himself, he now works on the frontlines of cybersecurity. He recently appeared on a VICE documentary, wearing a mask to conceal his true identity. In the documentary, he shared some of the worst things he has experienced on the dark web. Despite once being a self-proclaimed “black hat”, he now instead uses his abilities to fight against the very people he once stood with. The interview revealed just how profitable and advanced cybercrime has become in recent years.

Early Life as a Black Hat Hacker

As with the majority of black hat hackers, the masked veteran started his online career without any regard for ethical behavior. As with others in his field, he would break into a company’s system simply to cause disruption and for his own personal satisfaction. His method of attack was to exploit human behavior. He would first target employees who carried their personal devices into secured environments he couldn’t access. He would then work his way through the networks, making his way into the center of the digital infrastructure.

Swapping Hats

Despite his early days as a black hat hacker on the dark web, he eventually decided to make a dramatic turn in his life. His new mission is to use his insider knowledge to target cybercriminals. Today, he is known as a white hat hacker. These types of hackers work in the cybersecurity field, helping to identify weaknesses in company systems before hackers do. He is now responsible for uncovering any potential vulnerabilities that have previously gone unexamined. It is then his job to track down the people trying to attack their systems.

The Huge Threat of Ransomware Cybercriminals

According to the masked hacker, the most alarming thing he has seen on the dark web is ransomware. What happens is that hackers attack the system and encrypt all of the data. They then hold the data “hostage” until the company pays a ransom to have it released. The sheer scale increase in ransom price is also very alarming. In one recent ransomware incident, the attackers demanded a staggering $70 million for a decryption key. Paying the ransom fuels this criminal economy, but companies are often left with very few other options.

The Real-World Consequences of Ransomware Attacks

Sure, having your home PC attacked can be very worrying and inconvenient. However, when it comes to ransomware attacks on infrastructure such as hospitals, the situation can grow terrifying. The lives of those in the hospital could literally be on the line. The former dark web hacker has witnessed how hospitals are forced to choose between letting their patients suffer or paying the cybercriminals. Large sections of the US were almost crippled in one attack on Colonial Pipeline that resulted in fuel supply chain failures. These are just a few examples of the real-world consequences of these ransomware attacks that the former hacker has observed firsthand.

Entire Nations Are Often Involved

Ransomware attacks aren’t just carried out by lone black hat hackers, though. In fact, many of today’s attacks are backed by highly organized cyber gangs or even nation-states. For example, countries like Iran, China, North Korea, and Russia have all been linked to weaponized cyberattacks. These countries typically regard it as a form of asymmetric warfare. These cyber attackers can now cause more damage than any weapon, simply using a laptop and a bit of funding.

The Access Broker Economy

Out of this dire situation, a new marketplace for criminals has emerged. Known as the Initial Access Broker economy, these brokers sell compromised access to companies. This allows cybercriminals to use it for nefarious purposes, such as extortion and data theft. This disturbing trend reveals just how organized and profitable cybercrime has become for these hackers. It’s just the start, though, and the former black hat hacker warned that this type of model is growing increasingly more prevalent.

The Bottom Line On Dark Web Hackers

Those working on the other side of this issue aren’t taking these attacks lightly, though. Government agencies are likewise growing increasingly concerned with the holes in their own security systems. This is why more and more of them are turning to former black hat hackers for help. Thanks to their experience regarding cyberthreats, they are able to offer invaluable expertise when it comes to developing defensive strategies. However, it is a constantly reactive war, where hackers are constantly trying to stay one step ahead of cybersecurity.