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Inside the Russian-Speaking Underground: The Frontline of Global Cybercrime

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Trend Micro (TYO: 4704; TSE: 4704) has released a comprehensive research paper examining the Russian-speaking cyber underground's evolution and impact on global cybercrime. The study reveals how this sophisticated criminal ecosystem operates with organized structures, internal ethics codes, and reputation systems.

The research highlights major trends reshaping the underground economy, including:

  • Pandemic's long-term effects
  • Double extortion ransomware impacts
  • AI and Web3 technology adoption
  • Biometric data exposure

The paper explores key criminal operations like ransomware-as-a-service, phishing campaigns, account brute forcing, and Web3 asset monetization. The research also examines how geopolitical shifts have influenced underground collaboration, noting increased connections with Chinese-speaking actors and spillover into the EU.

Trend Micro (TYO: 4704; TSE: 4704) ha pubblicato un documento di ricerca completo che esamina l'evoluzione del cyber sottobosco di lingua russa e il suo impatto sul crimine informatico globale. Lo studio rivela come questo sofisticato ecosistema criminale operi con strutture organizzate, codici etici interni e sistemi di reputazione.

La ricerca evidenzia le principali tendenze che stanno rimodellando l'economia sotterranea, tra cui:

  • Effetti a lungo termine della pandemia
  • Impatto del ransomware a doppia estorsione
  • Adopzione di tecnologie AI e Web3
  • Esposizione dei dati biometrici

Il documento esplora operazioni criminali chiave come il ransomware-as-a-service, le campagne di phishing, il brute forcing degli account e la monetizzazione degli asset Web3. La ricerca esamina anche come i cambiamenti geopolitici abbiano influenzato la collaborazione nel sottobosco, notando un aumento dei collegamenti con attori di lingua cinese e un'espansione nell'UE.

Trend Micro (TYO: 4704; TSE: 4704) ha publicado un extenso documento de investigación que examina la evolución del ciberbajo mundo de habla rusa y su impacto en el cibercrimen global. El estudio revela cómo este sofisticado ecosistema criminal opera con estructuras organizadas, códigos éticos internos y sistemas de reputación.

La investigación destaca las principales tendencias que están remodelando la economía subterránea, incluyendo:

  • Efectos a largo plazo de la pandemia
  • Impactos del ransomware de doble extorsión
  • Adopción de tecnologías de IA y Web3
  • Exposición de datos biométricos

El documento explora operaciones criminales clave como ransomware-como-servicio, campañas de phishing, fuerza bruta de cuentas y monetización de activos Web3. La investigación también examina cómo los cambios geopolíticos han influido en la colaboración subterránea, señalando un aumento de conexiones con actores de habla china y una expansión hacia la UE.

트렌드 마이크로 (TYO: 4704; TSE: 4704)는 러시아어를 사용하는 사이버 지하 세계의 진화와 글로벌 사이버 범죄에 미치는 영향을 조사한 종합 연구 논문을 발표했습니다. 이 연구는 이 정교한 범죄 생태계가 어떻게 조직화된 구조, 내부 윤리 강령 및 평판 시스템으로 운영되는지를 보여줍니다.

연구는 지하 경제를 재편하는 주요 트렌드를 강조합니다. 이에는 다음이 포함됩니다:

  • 팬데믹의 장기적인 영향
  • 이중 강탈 랜섬웨어의 영향
  • AI 및 Web3 기술의 채택
  • 생체 데이터 노출

이 논문은 랜섬웨어 서비스, 피싱 캠페인, 계정 무차별 대입 공격 및 Web3 자산 수익화와 같은 주요 범죄 작전을 탐구합니다. 연구는 또한 지정학적 변화가 지하 협력에 미친 영향을 조사하며, 중국어를 사용하는 행위자들과의 연결 증가 및 EU로의 확산을 언급합니다.

Trend Micro (TYO: 4704; TSE: 4704) a publié un document de recherche complet examinant l'évolution du cybermonde souterrain russophone et son impact sur la cybercriminalité mondiale. L'étude révèle comment cet écosystème criminel sophistiqué fonctionne avec des structures organisées, des codes éthiques internes et des systèmes de réputation.

La recherche met en lumière les principales tendances qui redéfinissent l'économie souterraine, notamment :

  • Effets à long terme de la pandémie
  • Impacts des ransomwares à double extorsion
  • Adoption des technologies IA et Web3
  • Exposition des données biométriques

Le document explore des opérations criminelles clés telles que le ransomware en tant que service, les campagnes de phishing, les attaques par force brute sur les comptes et la monétisation des actifs Web3. La recherche examine également comment les changements géopolitiques ont influencé la collaboration souterraine, notant une augmentation des connexions avec des acteurs de langue chinoise et un débordement vers l'UE.

Trend Micro (TYO: 4704; TSE: 4704) hat ein umfassendes Forschungspapier veröffentlicht, das die Entwicklung der russischsprachigen Cyber-Unterwelt und deren Auswirkungen auf die globale Cyberkriminalität untersucht. Die Studie zeigt, wie dieses ausgeklügelte kriminelle Ökosystem mit organisierten Strukturen, internen Ethikcodes und Reputationssystemen funktioniert.

Die Forschung hebt die wichtigsten Trends hervor, die die Untergrundwirtschaft umgestalten, darunter:

  • Langfristige Auswirkungen der Pandemie
  • Auswirkungen von Doppel-Erpressungs-Ransomware
  • Adoption von KI- und Web3-Technologien
  • Exposition biometrischer Daten

Das Papier untersucht zentrale kriminelle Operationen wie Ransomware-as-a-Service, Phishing-Kampagnen, Brute-Force-Angriffe auf Konten und die Monetarisierung von Web3-Assets. Die Forschung analysiert auch, wie geopolitische Veränderungen die Zusammenarbeit im Untergrund beeinflusst haben, und merkt an, dass die Verbindungen zu chinesischsprachigen Akteuren zugenommen haben und es zu einem Übergreifen in die EU gekommen ist.

Positive
  • Publication of 50th research paper in Cybercrime Underground series, demonstrating leadership in threat intelligence
  • Expanded market intelligence on emerging cybersecurity threats and underground operations
Negative
  • Research reveals increasing sophistication and organization of cyber threats
  • Identified growing collaboration between Russian and Chinese cybercriminal actors poses elevated risks

Trend Micro's new research paper highlights cybercriminal underground's expanding reach 

DALLAS, April 8, 2025 /PRNewswire/ -- Trend Micro Incorporated (TYO: 4704; TSE: 4704), a global cybersecurity leader, today launched a new research paper, delivering a unique and comprehensive look into the Russian-speaking cyber underground, an ecosystem that has shaped global cybercrime over the past decade.

For the full report, please visit: https://www.trendmicro.com/vinfo/us/security/news/cybercrime-and-digital-threats/the-ever-evolving-threat-of-the-russian-speaking-cybercriminal-underground

Set against the backdrop of a rapidly evolving cyber threat landscape, the research paper explores major trends reshaping the underground economy: the long-term impacts of the pandemic, the fallout of mass breaches and double extortion ransomware, the explosion of accessible AI and Web3 technologies, and the widespread exposure of biometric data. As both cyber criminals and defenders grow more sophisticated, new tools, tactics, and business models are driving unprecedented levels of specialization within underground communities.

The Russian-speaking underground stands apart as a uniquely organized, highly collaborative, and deeply cultural network of actors operating with their own internal codes of ethics, vetting processes, and reputation systems.

"This isn't just a marketplace, it's a structured society of cybercriminals where status, trust, and technical excellence determine survival and success," said Vladimir Kropotov, co-author of the research and Principal Threat Researcher at Trend Micro.

"The Russian-speaking underground has cultivated a distinctive culture that blends elite technical expertise with strict codes of conduct, reputation-based trust systems, and collaboration that rivals legitimate enterprises," said Fyodor Yarochkin, co-author and Principal Threat Researchers at Trend Micro. "This isn't just a collection of criminals, it's a resilient, interconnected community that has adapted to global pressure and continues to shape the future of cybercrime."

The research dives deep into key criminal operations gaining momentum in this space, including ransomware-as-a-service schemes, phishing campaigns, account brute forcing, and monetizing stolen Web3 assets. Intelligence gathering services, privacy exploitation, and the merging of cyber and physical domains are also examined in detail.

"Geopolitical shifts have rapidly transformed the cyber underground," said Vladimir. "Political conflicts, rising hacktivism, and changing alliances have eroded trust and reshaped collaboration—spurring new ties with other groups, including Chinese-speaking actors. Spill-over into the EU is growing."

As geopolitical tensions rise and cybercriminals embrace more advanced technologies like AI and Web3, understanding the inner workings of the Russian-speaking underground has never been more urgent.

Trend's Russian-speaking Cyber Underground paper – the 50th in its Cybercrime Underground research series spanning nearly 15 years – provides unmatched depth and historical context for threat intelligence communities, business leaders, law enforcement, and cybersecurity professionals tasked with protecting critical infrastructure, enterprise assets, and national security.

About Trend Micro 
Trend Micro, a global cybersecurity leader, helps make the world safe for exchanging digital information. Fueled by decades of security expertise, global threat research, and continuous innovation, Trend Micro's AI-powered cybersecurity platform protects hundreds of thousands of organizations and millions of individuals across clouds, networks, devices, and endpoints. As a leader in cloud and enterprise cybersecurity, Trend's platform delivers a powerful range of advanced threat defense techniques optimized for environments like AWS, Microsoft, and Google, and central visibility for better, faster detection and response. With 7,000 employees across 70 countries, Trend Micro enables organizations to simplify and secure their connected world. www.TrendMicro.com

Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/inside-the-russian-speaking-underground-the-frontline-of-global-cybercrime-302422681.html

SOURCE Trend Micro

FAQ

What are the main cybercrime trends identified in Trend Micro's (TMICY) latest research paper?

The research identifies pandemic impacts, double extortion ransomware, AI and Web3 technology adoption, and biometric data exposure as major trends reshaping the underground economy.

How has geopolitical tension affected the Russian-speaking cyber underground according to TMICY's research?

Geopolitical conflicts have eroded trust, reshaped collaboration patterns, and led to new alliances with Chinese-speaking actors, with increasing spillover into the EU.

What criminal operations are gaining momentum in the Russian-speaking cyber underground?

Key operations include ransomware-as-a-service, phishing campaigns, account brute forcing, and monetizing stolen Web3 assets.

How does the Russian-speaking cyber underground operate according to TMICY's findings?

It operates as a structured society with internal codes of ethics, vetting processes, and reputation systems, combining elite technical expertise with strict conduct codes.
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