Between July and December 2025, cybersecurity firm Team Cymru conducted an extensive analysis of carding infrastructure, revealing a sophisticated network comprising 28 unique IP addresses and 85 domains that actively host illicit carding markets and forums. The research employed technical fingerprinting methods crucial for financial institutions, law enforcement agencies, and fraud fusion centers working to […]

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The industrialization of pig butchering scams has reached a critical tipping point. A sprawling Pig Butchering-as-a-Service (PBaaS) economy has emerged across Southeast Asia, offering turnkey scam platforms, stolen identities, pre-registered SIM cards, mobile applications, payment infrastructure, and shell company formation services. PBaaS enable fraudsters to scale romance and investment fraud operations with unprecedented ease and minimal […]

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