Before going into detail, let me give you a little insight into credit card, its technology and hackers.
A credit card is a financial instrument that allows consumers to borrow money to purchase goods and services. Banks and other financial institutions issue credit cards, typically with an Annual Percentage Rate (APR) that determines the interest charged on outstanding balances.
The Technology used in credit cards is called radio frequency identification (RFID). This technology uses radio waves to communicate between the card and the reader.
Brainsclub is a black-market site that sells stolen credit cards. The site is operated by an anonymous group and is not affiliated with any other organization.
Let’s discuss more about it.
Is it necessary to have a Credit Card?
There are a few things to decide whether or not you need a credit card;
You probably don’t need one if you don’t carry any debt and pay your bills in full each month.
However, a credit card can be a helpful tool if you’re trying to build credit or want the flexibility to make purchases now and pay later.
There are also some situations where having a credit card is essential, such as renting a car or booking a hotel room.
Ultimately, whether or not to get a credit card comes down to your financial situation and spending habits.
What are the uses of Credit Cards?
A credit card can be a valuable tool if used correctly. Some of the benefits of using a credit card include the following:
You can use a credit card to build your credit history. This is important because your credit score is one factor that lenders look at when considering you for a loan.
A credit card can give you a way to make purchases that you may not be able to afford with cash. This can be helpful if you need to make an emergency purchase or if you want to take advantage of a sale.
Using a credit card can help you keep track of your spending. This can help create and stick to a budget.
Credit cards offer fraud protection. You are not responsible for the charges if your card is stolen or used without your permission.
Of course, there are also some downsides to using credit cards. These include:
It can be easy to overspend when using a credit card. This can lead to debt and financial problems.
Credit cards can have high-interest rates. This means that if you carry a balance on your card, you will end up paying more in the long run.
If you misuse a credit card, it can damage your credit score. This can make it challenging to get approved for loans or lines of credit in the future.
Overall, using a credit card can be helpful or harmful, depending on your use. If you are careful and use your credit card wisely, it can be a tremendous financial tool. However, if you misuse your credit card, it can cause serious financial problems.
Which Technology is used in Credit Cards?
The Technology used in credit cards is called radio frequency identification (RFID). This technology uses radio waves to communicate between the card and the reader.
The card contains a microchip that stores information about the cardholder, such as the name, account number, and expiration date.
When the card is swiped through a reader, the chip sends a signal to the reader that contains this information. The reader then uses this information to process the transaction.
There are two types of RFID chips used in credit cards:
- Active Chips
- Passive Chips
Active Chips
Active chips are powered by a battery and can transmit their signal over a distance of up to 10 feet (3 meters).
Passive chips
Passive chips do not have their power source and can only transmit their signal when they are close to the reader, usually within 4 inches (10 centimeters).
Most credit cards now use the passive type of RFID chip. These chips are cheaper to produce and more difficult to clone than active ones.
However, they are also more vulnerable to skimming, a type of data theft. Skimmers are devices that can be placed over a card reader to capture the information stored on the card’s RFID chip. This information can then be used to create a counterfeit card.
To prevent your credit card from being skimmed, you can keep it in a protective sleeve or wallet that blocks radio waves.
It would be best if you also avoided swipe-style card readers, as these are more likely to be equipped with skimmers.
If you use a chip-enabled card, ensure the reader is compliant with EMV (Europay, Mastercard, and Visa). This means that it has a built-in security feature that helps to prevent skimming.
If you think your credit card information has been stolen, you should contact your card issuer immediately. They will be able to cancel your card and issue you a new one. You should also report the incident to the police so that they can investigate.
Hackers are constantly finding new ways to steal your personal information, including your credit card numbers. The hackers of the website ‘Brainclub’ also steel your credit card information and sells in the blackmarket.
Brainsclub
Brainsclub is a black-market site that sells stolen credit cards. The site is operated by an anonymous individual or group and is not affiliated with any other organization.
Brainsclub has been active for many years and is used by criminals to purchase goods and services online.
The site is accessible via the Tor network and uses Bitcoin as its primary currency. Brainsclub is one of the most popular black-market sites on the dark web and has been used by criminals to purchase millions of dollars worth of goods and services.
Recently, vigilantes rescued the data of over 26 million credit and debit cards stolen by Brainclub.
Statistics regarding stolen credit cards uploaded on Brainhub
- 2015: 1.7 million approx.
- 2016: 2.9 million approx.
- 2017: 4.9 million approx.
- 2018: 9.2 million approx.
- 2019: 8 million approx.
- Total Cards sold: 9.1 million approx.
- Total Earning: $126 million approx. (in Bitcoin)
Importance of Security to handle Black Markets like Brainsclub
The importance of security when handling a black-market site like Brainsclub cannot be understated.
There are many ways that someone could access the site and steal credit card information, so it is essential to take measures to prevent this from happening.
Use of VPN
One way to do this is to use a VPN, which will encrypt all the data sent and received by the site. This will make it much more difficult for someone to intercept and read the data and help keep the site safe from attacks.
Strengthen Password
Another important security measure is to use a strong password and never reuse passwords on other sites. This will help to ensure that even if someone does manage to get access to one account, they will not be able to use that same password to access other accounts.
Security Update
Keeping the site updated with the latest security measures is essential, as new threats are constantly emerging.
By taking these steps, you can help keep your data and information safe from thieves.
How to secure your credit cards from hackers?
As we all know, credit card fraud is rampant these days. Hackers are constantly finding ways to steal our personal information, including our credit card numbers.
So, what can you do to protect your credit cards from hackers? Here are some tips:
Use a secure credit card processor.
Ensure that the website or company you’re using to process your credit card payments is secure. Look for the https:// in the URL, which indicates that the site is using a secure connection.
Use a credit card with chip technology.
Chip-enabled credit cards are much more difficult for hackers to clone than traditional magnetic stripe cards. So, if your credit card has a chip, use it whenever possible.
Keep your credit card information safe.
Don’t store your credit card numbers or PINs in an easily accessible place. And don’t carry your credit cards with you all the time – only take them with you when you use them.
Monitor your Credit Card statements.
Carefully review your credit card statements each month for unauthorized charges. If you see anything suspicious, report it to your credit card issuer immediately.
Report lost or stolen Credit Cards right away.
If you lose your credit card or it’s stolen, report it to your credit card issuer immediately. They will cancel your card and issue you a new one.
Following these tips can help protect your credit cards from hackers.
What steps should be taken in case of stolen Credit Cards?
If you have a stolen credit card, you should first report it to your credit card company. They will then be able to cancel the card and issue you a new one.
You should also file a police report to have documentation of the theft.
And you should keep an eye on your credit report for any suspicious activity.
